The Tea Act of 1773 was an Act which was executed by the Parliament of Great Britain in 1773. Copyright © 2020 Historic Tours of America®, Inc. All rights reserved. The Tea Act was a British legislation that granted a monopoly on tea to the East India Company in the American colonies.
In many colonial ports to protest the Tea Act, the shipment of British East India Company tea was unloaded and left untouched on the docks to rot.
This opened up the British East India Company’s markets to the lucrative American colonies. It received the In 1770 most of the Townshend taxes were repealed, but taxes on tea were retained. By 1773 the Company was close to collapse due in part to contractual payments to the British government of £400,000 per year, together with war and Proposals were made that the Townshend tax also be waived, but North opposed this idea, citing the fact that those revenues were used to pay the salaries of crown officials in the colonies. This website meets WCAG 2.0/2.1 AA standards set by the ADA. The tea was to be shipped to the American colonies and sold at a reduced rate. The Act granted the Company the right to directly ship its tea to North America and the right to the duty-free export of tea from Britain, although the tax imposed by the Townshend Acts and collected in the colonies remained in force. A related objective was to undercut the price of illegal tea, smuggled into Britain's North American colonies. In New York and Philadelphia, opposition to the Act resulted in the return of tea delivered there back to Britain.
Parliament passed the Taxation of Colonies Act 1778 which repealed the Tea Act. A view of the Town of Boston in New England and British ships of war landing their troops, 1768. The Tea Act aborted this restriction and granted the British East India Company license to export their tea to the American colonies. Boston Tea Party Ships & Museum® is a registered service mark of Historic Tours of America®, Inc. With the passing of the Tea Act, the seventeen million pounds of unsold surplus tea the British East India Company owned could be sold to markets in the American colonies. The Tea Act taxed tea imported to the Britain's North American colonies. The This page was developed with the help of one of our great cast members here at the Boston Tea Party Ships & Museum®....Sign up to receive special offers, discounts and news on upcoming events. This was supposed to convince the colonists to purchase Company tea on which the Townshend dutieswere paid, thus implicit… Boston Public Library.The Tea Act, passed by Parliament on May 10, 1773, granted the Prior to the Tea Act, the British East India Company Tea was required to exclusively sell its tea at auction in London.
TEA ACT TEXT. American colonists were outraged over the tea tax, which had existed since the 1767 Townshend Revenue Act and did not get repealed like the other taxes in 1770, and believed the Tea Act was a tactic to gain colonial support for the tax already enforced. Facts about the Tea Act of 1773.
The Company was granted license by the North administration to ship tea to major American ports, including Many colonists opposed the Act, not so much because it rescued the East India Company, but more because it seemed to validate the Townshend Tax on tea. An act to allow a drawback of the duties of customs on the exportation of tea to any of his Majesty's colonies or plantations in America; to increase the deposit on bohea tea to be sold at the India Company's sales; and to impower the commissioners of the treasury to grant licences to the East India Company to export tea duty-free. Prior to the Tea Act, colonial merchants purchased tea directly from British markets or smuggled from illegal markets. This required the British East India Company to pay a tax per pound of tea sold which added to the company’s financial burdens. The principal objective was to reduce the massive amount of tea held by the financially troubled British East India Company in its London warehouses and to help the financially struggling company survive. These interests combined forces, citing the taxes and the Company's monopoly status as reasons to oppose the Act. The principal overt objective of the Act was to decrease the absurd surplus of tea that was held by the British East India Company, who was in heavy financial trouble, in its London warehouses. The Townshend Revenue Act tea tax remained in place despite proposals to have it waived. Governor Hutchinson in Boston was determined to leave the ships in port, even though vigilant colonists refused to allow the tea to be landed. Additionally, under the Tea Act, duties Britain charged on tea shipped to the American colonies would be waived or refunded upon sale.With the passing of the Tea Act, the seventeen million pounds of unsold surplus tea the British East India Company owned could be sold to markets in the American colonies. The Tea Act, passed by Parliament on May 10, 1773, granted the British East India Company Tea a monopoly on tea sales in the American colonies. In Charleston, the colonists left the tea on the docks to rot. Resistance to this tax included pressure to avoid legally imported tea, leading to a drop in colonial demand for the Company's tea, and a burgeoning surplus of the tea in the company's English warehouses.