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Stamp Act

Stamp Act. In addition to buying products from Britain, you also had to buy a stamp. These stamps were expensive as we shall see later on in the class “No taxation without representation” Types of Protest Boycotts Boston Tea Party Tarring and Feathering. How Punitive was the Stamp Act?.

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Stamp Act

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  1. Stamp Act • In addition to buying products from Britain, you also had to buy a stamp. • These stamps were expensive as we shall see later on in the class • “No taxation without representation” • Types of Protest • Boycotts • Boston Tea Party • Tarring and Feathering

  2. How Punitive was the Stamp Act? • Let’s assume that in 1765, one British pound sterling (£1) was worth $4.44 in American dollars. Let’s also figure that £1=20 shillings. • Using a commodity price index (CPI) we can compare 1765 stamp duties on playing cards and dice to today’s dollar. For example, a one-shilling tax on playing cards equals 1/20 of a British pound sterling, which equals $0.222 (1/20 = 0.05. 0.05 * 4.44 = 0.222). $0.222 in 1765 has the same purchasing power as $5.37 in today’s dollars. • Dice taxed at the rate of 10 shillings in 1765 would cost almost $54 in today’s dollar. • Violating the Stamp Act was costly. A £10 fine in 1765 equals a fine of $1,073.38 in current dollars; A £20 fine would be the same as $2,146.77.

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