In 1759 the British ministry began to urge the Virginians to address the problem on their own. When the Virginia Assembly ignored calls to mend its ways, Parliament passed the Currency Act, signed into law by George III on April 19, 1764.

Who made the Currency Act?

The Currency Act of 1764 was the second and most impactful of two laws passed by the British government during the reign of King George III that attempted to take total control of the monetary systems of all 13 colonies of British America.

What caused the Currency Act of 1764?

The colonies suffered a constant shortage of currency with which to conduct trade. There were no gold or silver mines and currency could only be obtained through trade as regulated by Great Britain. … On September 1, 1764, Parliament passed the Currency Act, effectively assuming control of the colonial currency system.