Stamp Act Term Paper Example | Topics and Well Written Essays - 2500 words

Stamp Act - Term Paper Example Today, Americans may have forgotten this important period on their journey to freedom, but the fact remains that without Stamp Act, the American Sons of Liberty and other freedom-fighters may not have gotten an opportunity to launch attacks against their colonist. The British claimed victory in the Seven Years’ War (1756-1763) that was fought against the European powers of those days. It was a typical polarizing war that pitted Great Britain, Prussia and a group of German states (small in size) against nations like Austria, France, Russia, Sweden, and Saxony that formed a staunch military alliance during that period (Morgan et al. 1995, 20-28). However, Britain has spent a lot on this war which seemed to have taken a huge toll on the colonist’s finances. Reportedly, British national debts had doubled by the time the war was concluded (Morgan et al.1995, 21). Apart from this issue, Britain also worried about how to source finances to keep so many soldiers that had fought in the war, many of whom have political links to the parliament. The fears of not wishing to see the soldiers become jobless and not knowing how to fund their continued engagement had forced Britain to come up with a strange method of financial The British Parliament, in 1765 eventually came up with the Stamp Act to source funds to finance the continued existence of its military contingent in North America by imposing taxes on printed materials, which include but not limited to newspapers, legal documents, magazines, and several other papers used in the colonies (Morgan et al. 1995, 80-95). The general acceptance given to this Act by British two arms of Parliament (House of Lords and House of Commons) revealed that Great Britain had seen this Act as the solution to its crippling financial situation at that time (Murrin et al. 2007, 187). The Parliament did not perceive anything wrong in this approach as it deemed it the appropriate way to find the money to solve its