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Questions and Answers
Why did the colonies resort to issuing paper currency?
Why did the colonies resort to issuing paper currency?
- They were influenced by other colonies' practices.
- They had an abundance of gold and silver bullion.
- They wanted to experiment with a new form of currency.
- They had insufficient bullion due to British demands for trade. (correct)
What was the British government's stance on trade of gold and silver bullion?
What was the British government's stance on trade of gold and silver bullion?
- They encouraged the colonies to hoard gold and silver bullion.
- They demanded the trade of gold and silver bullion. (correct)
- They prohibited the trade of gold and silver bullion.
- They were indifferent to the trade of gold and silver bullion.
Why did the colonies have insufficient bullion left over?
Why did the colonies have insufficient bullion left over?
- Because they didn't prioritize acquiring bullion.
- They were not interested in using bullion as currency.
- They had an excess of bullion but mismanaged it.
- Due to the British government's demand for a positive balance of trade. (correct)
