In the early 1760s in England, Benjamin Franklin was asked why the colonists were so prosperous, and he replied, “That is simple. It is only because in the Colonies we issue our own money. It is called colonial scrip, and we issue it in the proper proportion to the demand of trade and industry.” The Bank of England didn’t care for this, and in 1764, the Currency Act prohibited the plantation colonies from issuing legal tender. Many believe that the Stamp Act, Tea Act and other measures sparked the revolutionary movement, but Franklin reportedly stated: “The Colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the Colonists their money, which created unemployment and dissatisfaction.” - Dennis Cuddy
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