Currency Act Of 1764 Essay

Soon the Quartering Act was passed, directing the colonies to provide quarters for British soldiers. Americans found this oppressive because it meant that soldiers were placed in colonial homes. In 1764 Parliament passed the Stamp Act, putting a duty on most printed materials. This was a normal tax for the British as it had been going on in Britain for a long time, and it made sense that the rest of their empire would pay the same tax. This placed a burden on merchants and the colonial elite who did most legal transactions and read the newspapers. Also passed in the same year was the Declaratory Act, which stated that the colonies were subject to the will of Parliament. This made a lot of sense to the British, as Parliament was their ruling body, but, to the colonies who had become used to their own government during the years of salutory neglect, this was a direct threat to their way of life.

The Currency Act of 1764 prohibited paper currency in Virginia, which reduced the circulation of paper money in America, further burdening the colonies, which were always short of coin currency, the Act led to a rise of poverty in colonies.  The British enforcement of the Sugar and Molasses Act quickly cut into the economic welfare of the

After the victory towards French in the Seven Years War, the political and social relationship of the colonists and Great Britain had shifted to a different direction. The colonists began to think of themselves as Americans. At that time, The British government felt that the colonies had become quite independence, and they wanted their colonies to start paying tax in order to help England pay the national debt. Not only were Americans forced to pay direct taxes, but they were also obliged to involve in strict regulatory acts such as Sugar Act and Currency Act. Sugar Act (1764) strongly affected American’s trading in which their oceanic vessels and cargos could be inspected by the British Navy and might be confiscated if the paper and the goods that being transported were in disagreement. Currency Act (1764) restricted colonial governments to print their own paper money. These two acts put some colonists in anger but they were not enough to result in civil disorder until the Stamp Act was passed. The reason that the colonists resisted government authority with the passage of the Stamp Act (1765) was because the Stamp Act collected taxes in all type of papers including newspapers, playing cards, licenses, and stamps. This outraged many colonists especially the educated and

One of the acts was the stamp act. This was a way to force the colonies to help pay off the war debt. The British pushed the Stamp Act through Parliament in March 1765. This act required Americans to buy paper, newspapers, playing cards, and legal documents such as wills and a marriage license strictly from

Beginning in 1764, Great Britain began passing acts to exert greater control over the American colonies. The Sugar Act was passed to increase duties on foreign sugar imported from the West Indies. A Currency Act was also passed to ban the colonies from issuing paper bills or bills of credit because of the belief that the colonial currency had devalued the British money. Further, in order to continue to support the British soldiers left in America after the war, Great Britain passed the Quartering Act in 1765. This ordered colonists to house and feed British soldiers if there was not enough room for them in the colonist’s homes. An important piece of legislation that really upset the colonists was the Stamp Act passed in 1765. This required stamps to be purchased or included on many different items and documents such as playing cards, legal papers, newspapers, and more. This was the first direct tax that Britain had imposed on the colonists. Events began to escalate with passage of the Townshend Acts in 1767. These taxes were created to help colonial officials become independent of the colonists by providing them with a source of income. This act led to clashes between British troops and colonists, causing the infamous Boston Massacre. These unjust requests and increasing tensions all led up to the colonist’s declaration as well as the Revolutionary War.

     The passing of the Stamp Act by Parliament in 1765 caused a rush of angry protests by the colonists in British America that perhaps "aroused and unified Americans as no previous political event ever had." It levied a tax on legal documents, almanacs, newspapers, and nearly every other form of paper used in the colonies. Adding to this hardship was the need for the tax to be paid in British sterling, not in colonial paper money. Although this duty had been in effect in England for over half a century and was already in effect in several colonies in the 1750?s, it called into question the authority of Parliament over the overseas colonies that had no representation therein.

England passed a series tax laws and demanded the colonists pay back the debt. In 1764, the Sugar Act was passed by the Parliament of Great Britain, reducing smuggling yet increasing the cost of imported goods in the American colonies and decreasing exportation to non-British markets. The Currency Act of 1764 did not forbid colonies from releasing paper money, yet it did ban paper money from being used to pay of private or public debts. In 1765, the Stamp Act was established in order to raise revenue from the American colonies by taxing stamps which were required on all legal or commercial documents, newspapers, licenses, and diplomas. Great Britain benefited from the passing of the Stamp Act which enriched their economy. The colonists, however, believed that the Act was taxation without representation and the power to tax is the power to destroy. In 1767, a series of laws known as the Townshend Acts placed taxes on tea, glass, paper and other materials. This again benefited Great Britain and upsetted the colonists because of the high payments enforced on these

The Proclamation of 1763 stated that all lands west of the Appalachian Mountains were off-limits to the colonists. The purpose of the proclamation was mainly to stabilize relations with Native North Americans through regulation of trade, settlement, and land purchases on the western frontier. On March 1765, Parliament passed the Quartering Act which stated that each colonial family must provide the basic needs of soldiers stationed within its borders and to give the soldiers certain items included bedding, cooking utensils, beer or cider. This law was expanded in 1766 and required the assemblies to station soldiers in taverns and unoccupied houses. American Colonist had to use their time and money in order to keep the soldier happy. Also, during this time period, the colonies did not have enough physical paper money to conduct trade because currency could only be obtained through trade as regulated by Great Britain. On September 1, 1764, Parliament passed the Currency Act, which gave Britain the control of currency in America. The act prohibited the issue of any new bills and the reissue of existing currency. Parliament was not inclined to regulate the colonial bills but simply abolished them. The colonies were against this because they suffered a trade deficit with Great Britain to begin with and argued that the

In 1776, the original thirteen colonies officially declared their independence from Great Britain after the American revolution. This fight for freedom was not an easy one however and was brought on by a chain of events following the French and Indian War in 1754. After fighting in the French and Indian War, Great Britain had greatly over-extended itself, causing a period of severe debt. To cope with this debt, Parliament started trying to generate revenue for the country; one way this was done was though the passing of acts. In 1764, under the order of George Grenville, Chancellor of the Exchequer at the time, the Sugar Act and the Currency Act were implemented. These two acts were consumption taxes on sugar and printing currency, respectively. Not too long after these acts were passed, the Stamp Act of 1765 occurred, requiring colonists to pay for an official seal to have their mail sent. After this act was passed, colonists were becoming angry that they were being taxed on nearly everything. This anger led to the

After the Townshend acts, the Intolerable acts, and the Sugar act was passed the way the economy was working was not in the favor of the British officials. After the legislation there was more protesting and then went back to legislation and so on. “Events like the Boston Massacre in 1770, which followed the quartering troops in Boston,and the Boston Tea Party in 1773, which followed the Tea Act only served to ratchet up the tension between the mother country and its unruly colonies.” (C,97) The acts that were passed made matters worse instead of gaining the money

The Sugar Act of 1764 was imposed to prevent illegal sugar trade between the colonists and the West Indies. It lowered the duty on molasses which was detrimental to the market for sugar grown in the colonies. It also created a new court system, without juries, to try smugglers. The Currency Act of 1764 prohibited the colonists to issue paper currency, which they had used effectively during the French and Indian War. These acts were hurting the economy of the colonies and making them more subject to British rule. The Quartering Act of 1765 was an amendment of the Mutiny Act (Abdullah, M., et al 2014). This new provision forced colonists to house and feed British troops that were now permanently stationed in the colonies. They were also required to provide fuel and transportation. The American colonists were convinced, since the war was over, that the British troops were stationed there to keep an eye on them and this was further infringing on their liberties. The colonists opposed such regulations since they had lived primarily under smaller self-government for so long that they wanted desperately to protect that which they had become accustomed. The Massachusetts and New York Assemblies simply ignored the mandated Quartering Act. Charles Townsend dissolved the Assembly in New York as part of the Townsend Acts.

The passing of a series of laws regulating trade and tax, most notably the Sugar Act (1764), the Stamp Act (1765), and the Tea Act (1773) increased tension between Great Britain and its colonies in the period 1763-1776. Near the end of the French and Indian War, Great Britain was in desperate need of money to pay for their war debts. The British Parliament believed that they had a right to tax their colonies. Their legislations placed duties on certain imports that had never been taxed before. By the end of 1764, tensions heightened between colonists and imperial officials as they were disagreeing more and more about how the colonies should be taxed and governed. These feelings of dissatisfaction would soon swell into rebellion, leading to the American Revolution.

Another problem plaguing the economy of Britain was that the Americans continued to issue a large amount of paper bills. The British felt the effective way to halt the issuing of the bills was to put in place a Currency Act. They saw the paper money as "greatly depreciating

The frustrations amongst colonists did not stop with the Proclamation Line. In 1764 the Revenue Act, more commonly known as the Sugar Act was passed cutting the duty on molasses in half. Though the reduction in duty was favorable, the act also meant that ships carrying cargo were very closely monitored and those who breached laws regarding duty were tried in juryless admiralty courts. Following the Revenue Act was the Currency act of 1764, which prohibited colonies from producing their own currency; the reasoning was to restrict colonists from paying off debt with currency that was worth less than face value.

“The Revenue Act of 1764 did not bring in enough money to help pay the cost of defending the colonies. The British looked for additional sources of taxation. Prime Minister Grenville supported the imposition of a stamp tax. Colonial representatives tried to convince Grenville that the tax was a bad idea. Grenville insisted in having the new taxes imposed and presented to the parliament. The parliament approved the tax in February 1765. The colonies responded with outrage. It was considered a “shocking act”.(2)