The answer is "False".
By 1840 there was a market revolution due to improvised transportation, the exports which contained by then more southern cotton than northern food crops had increased as much as sixfold.
Patrick Henry responded to the Stamp Act with a series of resolutions introduced to the Virginia legislature in a speech. The resolves, adopted by the Virginia legislature, were soon published in other colonies, and helped to articulate America's stance against taxation without representation under the British Crown.