may 10, 1773 - The Tea Act

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The Tea Act of May 1773, provided financial relief for the East Indies Company who was in economic crisis. This act lowered the import tax on tea which meant that they were able to sell mass amounts of tea at extremely low prices which bypassed the tea that was being smuggled in. The colonists however did not like this act and dumped all the tea into the harbor in an event that is known as the Boston Tea Party. The Tea Act added even more people (merchants) into the fight for independence.

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