may 10, 1773 - Tea Act
Description:
An act granting the British East India Company a monopoly on tea sales in America. The company was highly profitable to the British Empire, but was beginning to fail due to a lack of sales of tea. Desperate to keep it afloat, Parliament passed the Tea Act, hoping that a monopoly on the colonial market would help the company rebound. However, the colonists were less than pleased with this turn of affairs, who were once again upset that such major economic decisions that affected their livelihood were being made without their consent or with any say in their passage. Less than a year later, the Sons of Liberty organized the Boston Tea Party as an act of defiance against the tax and the 1773 act.
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