SEPTEMBER 1, 1764 – PASSAGE OF BRITISH CURRENCY ACT

1764 – PASSAGE OF BRITISH CURRENCY ACT
The Act banned Colonial paper money as legal tender, severely limiting commerce and widening the trade deficit between England and the Colonies. Colonists were forced to pay their taxes only in gold or silver. Many, including Benjamin Frankln, claimed this was one of the major triggers, if not the major trigger, of the Revolutionary War.