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passage of the Stamp Act, a tax meant to defray the costs incurred during the French and Indian War. The day the act was to take effect, November 1, 1765, a group of angry New Yorkers headed down Broadway to Fort George, torches in hand, to demand justice. While acting governor Cadwallader Colden hid in the fort with the stamps, the mob hoisted an effigy of Colden on the gallows. Then they tore down the fence surrounding the Bowling Green, lit a bonfire, and burned Colden’s valuable winter sleighs. Six months later, the Stamp Act was repealed. While the Sons of Liberty continued to jeer at all signs of British authority, the Loyalist citizens of New York, such as the DeLanceys, raised the cash to erect a gilded equestrian statue of George III to stand on the very spot in Bowling Green where the mob had rallied. In August 1770, the new gold statue of King George was unveiled by the Loyalists to great acclaim.
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James Nevius (Footprints in New York: Tracing the Lives of Four Centuries of New Yorkers)