Unformatted text preview: Navigation Acts ) b. 1732- The Molasses Act : tax on French molasses (because Haiti began exporting molasses too) colonists ignored the act and would lie about where molasses came from and “fix” the books (bribery and smuggling were prevalent) British didn’t enforce the act; “salutory neglect” III. Finance: a. Shortage of money led to colonies printing their own money i. RI overproduced money, which decreased the value British stepped in b. The Currency Act: British closed all banks and instituted the pound as the only currency they were too late b/c separation had already begun...
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- Spring '08
- International Trade, Caribbean Islands, I. Commerical Economy