USA HISTORY

Detailed explanation-1: -King George III imposed a tax on official documents in American colonies. Included under the act were bonds, licenses, certificates, and other official documents as well as more mundane items such as plain parchment and playing cards.

Detailed explanation-2: -The British thought the colonists should help pay for the cost of their own protection. Furthermore, the French and Indian War had cost the British treasury £70, 000, 000 and doubled their national debt to £140, 000, 000.

Detailed explanation-3: -In 1765, parliament passed the Stamp Act to help pay down the war debt and finance the British army’s presence in the Americas. It was the first internal tax directly levied on American colonists by parliament and was met with strong resistance.

Detailed explanation-4: -By the end of World War II Britain had amassed an immense debt of £21 billion. Much of this was held in foreign hands, with around £3.4 billion being owed overseas (mainly to creditors in the United States), a sum which represented around one third of annual GDP.