dec 16, 1773 - Tea Act & Boston Tea Party
Description:
TEA ACT: Passed by Parliament in 1773, granted the British East India Company a monopoly on tea sales in the American colonies.The British East India Company was on the brink of financial collapse. Lord North decided to grant the Company a trading monopoly with the American colonies - while continuing to tax them.
The company would be able to sell its tea for a price lower than before - since a monopoly doesn't allow for competition.
BOSTON TEA PARTY: The colonists saw through this plot to encourage tax payment.
Activists resisted this, advocating boycott. Boston responded in a similarly extreme fashion. When three ships carrying tea entered the Boston Harbor, Bostonians stormed the ships and tossed 342 chests of tea into the water. The British East India Company made no profit from those million bags of tea.
Added to timeline:
Date:
dec 16, 1773
Now
~ 252 years ago