The Isle of Man's traditional copper currency, valued at 14 pence to the shilling (higher than British currency), was being profitably exported to Britain; to curb this, Tynwald passed an act in March 1840 assimilating Manx copper to British currency at 12 pence per shilling. When the change took effect on 26 September 1840, islanders who felt defrauded rioted across the island, smashing windows of shops, banks and even a chapel in Douglas; Peel suffered the worst damage, with rioting lasting several weeks and residents later required to pay assessment fees covering roughly £58 of destruction.