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In an effort to actually collect some of amount of tax, in 1764 the British rewrote the tax law as the Sugar Act. In 1733 the British Parliament passed the Molasses Act of 1733 which required American Colonists to pay a six pence tax on foreign molasses. What was the significance of the Sugar Act?. 6 However, CD rates remained low, with the average three … CD rates typically increase during times of high inflation, and the U.S.

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