jul 1, 1751 - Currency Act of 1751
Description:
The first Act, the Currency Act of 1751 (24 Geo. II c. 53), restricted the emission of paper money and the establishment of new public banks by the colonies of New England. These colonies had issued paper fiat money known as "bills of credit" to help pay for military expenses during the French and Indian Wars.Added to timeline:
Date:
jul 1, 1751
Now
~ 274 years ago