The Currency Act 1764
By kirksmb, Updated
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End of French and Indian War
British need Money
Colony Trade is Dwindling
The British won, but the Native Americans, who sided with the French were not happy.
Colonies trade with Britain
British spent lots of money on the war and now need to repay their , so they start taxing the Colonists even more
The Currency Act
The colonists lost a lot of their supplies in accommodating the British soldiers so they were short on stock, and the trade market in the colonies was also at a low.
The American Revolution
The colonies are forced to trade their raw materials with the British because of the numerous taxes, and then buy the manufactured products back off the British. But the raw materials were cheaper than the manufactured products and therefore there was a trade imbalance casing the colonies to lose their profit.
Colonists didn't have much gold and silver so instead they created paper notes. The problem was that the notes varied in value so Britain banned paper money.
The colonists got sick of having to pay numerous taxes to the British government without having any representation in England. The Currency Act was one of the last straws and so eventually the colonists revolted against the British.
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