This act as proposed by the British Prime Minister Grenville soon after the parliament had passed the currency act. It was a means to control the repayment of the heavy debts and expenses that the government had incurred during the seven year war. This is because the British Merchants, immediately after the war, started requesting the government to repay the expenses they incurred during the war buying British imports. Furthermore, these merchants required to be paid through the British Pound Sterling which was more valuable than the local colonial currency.
The initial currency act stated that the colonies were no longer supposed to issue paper currency, a strategy that made it very difficult for the colonist to pay their taxes and debts. This act was further strengthened by the following Stamp Act which required every colonist to first obtain a government stamp in order to undertake any legal transaction. The news of this act to the colonies led to a strong opposition against it which leads to riots starting with Boston. Further, the news of the opposition and riots to other colonies triggered them to a similar reaction and at the end, the reactions towards the stamp act was a door to unite the colonies in opposition towards the British government.
 US Department of State ibid.
 Hickman Kennedy, The American Revolution, Causes of conflict, ibid.
 US Department of State Ibid.
These are just excerpts of essays for you to view. Please click on Order Now for custom essays, research papers, term papers, thesis, dissertations, case studies and book reports.