Talk:Currency Act

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Apparently because the Colonies were printing their own money which was debt free and not backed by Gold or Silver which provided help with the exchange of goods they're economy prospering. If this is true then the Bank of England pressed Parliament to pass the act keeping the Colonies from printing this money and because of it the Colonies had a depression less than a year later.

"In one year, the conditions were so reversed tat the era of prosperity ended, and a depression set in, to such an extent that the streets of the colonies were filled with the unemployed." Benjamin Franklin

"The colonies would gladly have borne the little tax on tea and theother matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inabilitty of the coloniss to get the power o issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War." Benjamin Franklin's autobiography

Can anyone confirm that the Colonies economy were prospering before this act as well as those two quotes?

[edit] move 1751 to wikisource?

as the currency act of 1751 on this page is simply the original document, should it be moved to wikisource with a summarization on this page? Or is this act not important enough to go onto wikisource? BadCRC 02:12, 9 February 2006 (UTC)

I don't know how to go about starting something on Wikisource, but I've nevertheless "been bold" and have removed the extract. Silverhelm 08:30, 19 December 2006 (UTC).

[edit] Clarified wording

Changed the text of the article claiming "a lot of this money had no value." This is misleading: why would anyone produce or use anything that was worthless? I attempted to word this in a way that makes sense: as Colonial Scrip was not generally or universally backed by a Gold standard or Silver standard, it was a fiat currency without a check against inflation to protect its value.