How did Currency Act change the relationship between Great Britain and its North American colonies during the period from the end of the French and Indian War, in 1763, until the colonies declared independence?
How did Currency Act change the relationship between Great Britain and its North American colonies during the period from the end of the French and Indian War, in 1763, until the colonies declared independence?
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How did Currency Act change the relationship between Great Britain and its North American colonies during the period from the end of the French and Indian War, in 1763, until the colonies declared independence?
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The Currency Act of 1764 regulated the entire monetary system of British colonies in America. This act was considered to be a continuation of the Act of 1751, which implied the restriction on the issuance of paper currency. The Act of 1751 was primarily implemented to fund the military expenditure that was required for the French and Indian Wars. The Currency Act brought in a lot of criticism from the North American colonies where it was imposed. In 1770, the act was revised by the British Parliament as it allowed New York to issue currency. However, allowance was still not given for the issuance of private debts.
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