British legislation regulating colonial money in America
Not to be confused with Coinage Act.
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The Currency Act or Paper Bills of Credit Act[1][2] 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. The policy created tension between the colonies and Great Britain and was cited as a grievance by colonists early in the American Revolution. However, the consensus view among modern economic historians and economists is that the debts by colonists to British merchants were not a major cause of the Revolution. In 1995, a random survey of 178 members of the Economic History Association found that 92% of economists and 74% of historians disagreed with the statement, "The debts owed by colonists to British merchants and other private citizens constituted one of the most powerful causes leading to the Revolution."[3]
^Britain, Great (1995). Current Law Statutes Annotated. Sweet & Maxwell. p. 131.
^Livesey, James (January 2013). "Free Trade and Empire in the Anglo-Irish Commercial Propositions of 1785". Journal of British Studies. 52 (1): 103–127. doi:10.1017/jbr.2012.62. ISSN 0021-9371.
^Whaples, Robert (March 1995). "Where Is There Consensus Among American Economic Historians? The Results of a Survey on Forty Propositions". The Journal of Economic History. 55 (1): 139–154. doi:10.1017/S0022050700040602. JSTOR 2123771. S2CID 145691938.
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