sep 1, 1764 - Currency Act

Description:

Britain passed the Currency Act to regulate paper money that was given out by the colonists. The paper money was passed out by the colonial legislature, which Britain already did not support, and was passed to support British Merchants and Creditors.
"The colonies suffered a constant shortage of 'hard currency' (silver and gold) with which to conduct trade. There were no gold or silver mines in the American colonies. Silver and gold coins (hard currency) could only be obtained through trade as regulated by Great Britain."
“Currency Act.” Currency Act of 1764 ***, www.landofthebrave.info/currency-act.htm.