1764 French and Indian War Colonial Era, Colonial Currency Related Manuscript Document proposed by and Headed “The Merchants of London trading to the Continent of America are of the Opinion..., declaring Paper Bills of Credit shall not be a legal Tender in Payment of any Sterling Debts,” London, Choice Extremely Fine.
A highly important American Colonial Currency related Document about trade with British merchants and for making payment for their merchandise. The "Act of Parliament passed in the fourth Year of his present Majesty" being referenced in this Manuscript is the Currency Act of 1764, one of the lesser-known but genuinely significant pieces of British imperial legislation in the run-up to the American Revolution. George III became King in 1760, so his "fourth year" places this Act in 1764 and during the French & Indian War era. The Currency Act prohibited the American colonies from issuing their own paper money as legal tender, a measure that was deeply unpopular in the American colonies, which were chronically short of Hard Currency (Specie) and relied heavily on locally issued Colonial paper bills of credit to facilitate everyday commerce. This manuscript document is about 6.5” tall x 8” wide, handwritten on a very clean laid period paper sheet, well penned that reads, in full, headed:

"The Merchants of London trading to the Continent of America are of the Opinion,...

That the most speedy and effectual Relief to the Colonies in respect to the present distressed State of their Commerce for want of a Medium of Trade, will be the Repeal of an Act of Parliament, respecting Bills of Credit in America, passed in the fourth Year of his present Majesty - And That such Repeal cannot injure the British Merchant provided a Clause be inserted in the Act for such Repeal, declaring Paper Bills of Credit shall not be a legal Tender in Payment of any Sterling Debts, or Contracts whatsoever already made or to be made, by, with, or in the Name and behalf of any Person or Persons residing in the Kingdom of Great Britain."

Overall, excellent penmanship in rich brown ink that is easily readable, sharp and very clear. A minor 1/2” small edge chip near the top far left edge is the only item worthy of mention affecting no text, with a clean blank verso. What makes this document fascinating is that it captures the London Merchants themselves lobbying for Relief on behalf of the colonies, not out of altruism, but out of their own self-interest. Their Colonial customers couldn't pay their debts without a functioning medium of exchange, so colonial commerce (and by extension, the British merchants' profits) was suffering. This Document proposes a compromise: repeal the restrictive Currency Law, but insert a new clause protecting British Merchants, specifically by ensuring Colonial Paper Money couldn't be forced upon them as legal tender for debts owed in Sterling.

This is exactly the kind of document that illustrates the complex, often overlooked economic machinery driving the American colonies toward Revolution, years before the more famous flashpoints like the Stamp Act (1765), the Townshend Acts !774), or the Boston Tea Party (1773). It shows the transatlantic mercantile community actively negotiating around currency and credit policy, a frequently under-appreciated grievance as compared to taxation, but one that struck at the daily economic life of ordinary colonists and merchants alike. The only discovery example we have encountered or know of, in the past 50 years.

[Pre-Revolutionary War, Colonial America, French and Indian War] [Currency Act of 1764, British Merchants, King George III] [Manuscripts, Documents, Currency and Finance]