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28 Σεπ 2023 · Currency Act — Quick Facts. Key facts and important details about the Currency Act of 1764 for kids doing research and students studying for the AP U.S. History (APUSH) exam.
The Currency Act or Paper Bills of Credit Act is one of several Acts of the Parliament of Great Britain that regulated paper money issued by the colonies of British America. The Acts sought to protect British merchants and creditors from being paid in depreciated colonial currency.
10 Απρ 2024 · In 1764, the British Parliament passed the Currency Act to regulate colonial trade and finances during the French and Indian War. This act prohibited the American colonies from printing their own paper money and required them to solely use British currency, which was scarce in the colonies.
The Currency Act of 1764 was the second and most impactful of two laws passed by the British government during the reign of King George III that attempted to take total control of the monetary systems of all 13 colonies of British America. Passed by Parliament on September 1, 1764, the act extended the restrictions of the Currency Act of 1751 ...
II. And whereas the great quantities of paper bills, or bills of credit, which are now actually in circulation and currency in several colonies or plantations is America, emitted in pursuance of acts of assembly declaring such bills a legal tender, make it highly expedient that the conditions and terms, upon which such bills have been emitted ...
To protect British merchants and creditors from depreciated colonial currency, this act regulated currency, abolishing the colonies' paper currency in favor of a system based on the pound sterling.
Check out this site for facts about the Currency Act in Colonial America. Meaning and Definition of the Currency Act for kids. History, information and facts about the Currency Act of 1764 for kids.
