English creditors in return for goods and in payment of the interest and
principal of debts. Thus the first chapter was written in the long
battle over sound money on this continent.

=Limitation on Western Land Sales.=--Later in the same year (1763)
George III issued a royal proclamation providing, among other things,
for the government of the territory recently acquired by the treaty of
Paris from the French. One of the provisions in this royal decree
touched frontiersmen to the quick. The contests between the king's
officers and the colonists over the disposition of western lands had
been long and sharp. The Americans chafed at restrictions on
settlement. The more adventurous were continually moving west and
"squatting" on land purchased from the Indians or simply seized without
authority. To put an end to this, the king forbade all further purchases
from the Indians, reserving to the crown the right to acquire such lands
and dispose of them for settlement. A second provision in the same
proclamation vested the power of licensing trade with the Indians,
including the lucrative fur business, in the hands of royal officers in
the colonies. These two limitations on American freedom and enterprise
were declared to be in the interest of the crown and for the
preservation of the rights of the Indians against fraud and abuses.

=The Sugar Act of 1764.=--King George's ministers next turned their
attention to measures of taxation and trade. Since the heavy debt under
which England was laboring had been largely incurred in the defense of
America, nothing seemed more reasonable to them than the proposition
that the colonies should help to bear the burden which fell so heavily
upon the English taxpayer. The Sugar Act of 1764 was the result of this
reasoning. There was no doubt about the purpose of this law, for it was
set forth clearly in the title: "An act for granting certain duties in