29+ Tea Act 1773 Description PNG. The act was not intended to raise revenue in the american colonies, and in fact imposed no new taxes. It was designed to prop up the east india company which was floundering.
Tea Act - Definition, Timeline & Facts - HISTORY from www.history.com
The desperate attempt drastically reduced the price of their tea in order to attract a lot of buyers and to compete with the tea shipped from holland. The tea act received royal assent on may 10, 1773. The principal objective was to reduce the massive amount of tea held by the financially troubled british east india company.
The official tea act of 1773 was passed by parliament, and it granted the british east india company a monopoly on the selling of tea in the colonies.
Below is the detailed description of how the tea act actually worked for the east india tea co. Tea and other items were. The tea act received royal assent on may 10, 1773. In 1773 lord north's ministry had passed the regulating act for india to control the activities of the company.
