1 sept. 1764 - Currency Act

Description:

The Currency Act was one of the many Parliament passed acts that regulated paper money issued by the colonies of North America, that were maintained by the British. The main goal of the act was to protect British merchants from being paid in depreciated colonial currency. This caused some economic unrest in the colonies. The British aimed to create a stable currency and to rather exchange payment in gold and silver, since paper money was inflated. The colonists did not approve of this economically deteriorating action, since it created a greater burden than expected. More resources were drained by this burden and the gold and silver was already limited, and it proved to be a non valuable currency at the end for the colonists due to scarcity.