What was the purpose of the Tea Act?

The act’s main purpose was not to raise revenue from the colonies but to bail out the floundering East India Company, a key actor in the British economy. The British government granted the company a monopoly on the importation and sale of tea in the colonies.

What was the Tea Act simple definition?

The Tea Act was a law set in place on May 10, 1773 by the British Parliament. This forced the colonists to order tea from this company, trade through this company, and use this company’s ships for delivery – all after they had placed a tax on the tea, which the colonists would have to pay.

Why did colonists hate the Tea Act?

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. These interests combined forces, citing the taxes and the Company’s monopoly status as reasons to oppose the Act.

What was the Tea Act and why was it created?

On April 27, 1773, the British Parliament passes the Tea Act, a bill designed to save the faltering East India Company from bankruptcy by greatly lowering the tea tax it paid to the British government and, thus, granting it a de facto monopoly on the American tea trade.

Which tea party destroyed the most tea?

the Boston Tea Party
The damage the Sons of Liberty caused by destroying 340 chests of tea, in today’s money, was worth more than $1,700,000 dollars. The British East India Company reported £9,659 worth of damage caused by the Boston Tea Party. According to some modern estimates, the destroyed tea could have brewed 18,523,000 cups of tea!

How much was the tax that caused the Boston Tea Party?

The act granted the EIC a monopoly on the sale of tea that was cheaper than smuggled tea; its hidden purpose was to force the colonists to pay a tax of 3 pennies on every pound of tea. The Tea Act thus retained the three pence Townshend duty on tea imported to the colonies.

What was the major objective of the Tea Act?

The Tea Act 1773 (13 Geo 3 c 44) was an Act of the Parliament of Great Britain. 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 struggling company survive.

What did the Tea Act put a tax on?

The Tea Act was an Act of Great Britain ‘s Parliament to impose a tax on tea and reduce the massive tea surplus of the British East India Company in London, a company in financial trouble. The Tea Act was part of a group of taxes imposed on the colonies by Britain called The Townsend Acts .

What was the cause and effect of the Tea Act?

Tea Act of 1773. The Tea act of 1773 was an attempt to assist the British East India Company out of its financial troubles. This act in effect gave the company a virtual monopoly on the tea trade in the colonies. By eliminating the middlemen, it made the tea cheaper than the highly taxed imported tea that the colonial merchants sold.

What were provisions of the Tea Act?

The Provisions of the Tea Act of 1773. The provisions of the Tea Act of 1773 were as follows: The new provisions in the Tea Act allowed tea to be shipped in East India Company ships directly from China to the American colonies, thus avoiding the tax on goods first sent to England, as required by previous legislation.