The currency act of 1764 was meant to accomplish stability of the imperial economy by increasing British control of the colonial economy.
The Currency Act of 1764 was introduced by Prime Minister Grenville, this act prohibited the colonies from printing additional paper money and wanted the colonists to pay British traders in gold and silver instead of the paper money already in circulation.
This Act aimed at standardizing the economy of the empire and also the currency used. This act ensured that the colonialists were under the control of British law. There was a shortage of gold and silver and colonists relied heavily on their paper money. This led the colonialists to find it hard to trade since they had less gold and silver to trade with, and this made them agitated more by the British rule.
Grenville also urged parliament to pass the Sugar Act of 1764 which also banned paper money printing.
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