currency act 1764 definition
Definition of the 1764 Currency Act. The 1764 Currency Act was a law passed by British Parliament to regulate the issue and legal tender status of paper money in the colonial economy.This act was an extension of the 1751 Currency Act that applied to New England colonies, the 1764 Currency Act applied the same principles to all British colonies in America.onsequences of the 1764 Currency Act. Opposition to the 1764 Currency Act started immediately. Colonial governments petitioned its repeal as the postwar economic slowdown was being felt in most colonies. In 1770 Parliament revised the Act and allowed New York to issue bills as legal tender for all types of debt.