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.
- The Tea Act in 1773 authorized the shipment of 5,000 chests of tea (250 tons) to the American colonies. There would be a tax of £1,750 (equal to £225,352 today) to be paid by the importers when the cargo landed.
How many cents per pound was the tax on tea?
The Tea Act, though, did leave in place the hated three-pence-per-pound duty enacted by the Townshend Acts in 1767, and it irked colonists as another instance of taxation legislation being passed by Parliament without their input and consent.
How much money was the tea worth in 1773?
The 90,000 pounds of tea (worth $1 million today ) carried a tax that the colonists fervently opposed. This successful protest on December 16, 1773, sparked the other colonies. “This is the most magnificent movement of them all,” recorded future founding father John Adams.
How much did the tea party cost?
It took nearly three hours for more than 100 colonists to empty the tea into Boston Harbor. The chests held more than 90,000 lbs. (45 tons) of tea, which would cost nearly $1,000,000 dollars today.
How much money was the Tea Act?
On December 16, 1773, the Patriots boarded the British ships disguised as Mohawk Indians and dumped the tea chests, valued then at £18,000 ( nearly $1 million in today’s money ), into the water.
What did the Tea Act tax?
This act placed duties on a number of goods imported into the colonies, including tea, glass, paper and paint. The revenue raised by these duties would be used to pay the salaries of royal colonial governors.
Why is there no tax on tea?
The passing of the Tea Act imposed no new taxes on the American colonies. The tea tax was kept in order to maintain Parliament’s right to tax the colonies. The Tea Act was not intended to anger American colonists, instead it was meant to be a bailout policy to get the British East India Company out of debt.
How much did tea cost during the Boston Tea Party?
How much did the protest cost? It was an expensive protest. If measured in today’s financial terms, the value of the more than 92,000 pounds of tea dumped into the Boston Harbor would be around $1 million.
How much was the tea worth that was dumped in 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!
Who owned the tea that was dumped in Boston Harbor?
Boston Tea Party, (December 16, 1773), incident in which 342 chests of tea belonging to the British East India Company were thrown from ships into Boston Harbor by American patriots disguised as Mohawk Indians.
Can you throw tea into Boston Harbor?
Experience life at sea aboard an 18th-century sailing vessel as you join a Son of Liberty and take part in the “Destruction of the Tea”! Throw tea into the very same body of water where the Boston Tea Party took place over 240 years ago.
Why did the colonists dress up as Mohawks?
In an effort to hide their true identities, many of the Sons of Liberty attempted to pass themselves off as Mohawk Indians because if caught for their actions they would have faced severe punishment. The disguise was mostly symbolic in nature; they knew they would be recognized as non-Indians.
Who did the Boston Tea Party?
After Massachusetts Governor Thomas Hutchinson refused, Patriot leader Samuel Adams organized the “tea party” with about 60 members of the Sons of Liberty, his underground resistance group. The British tea dumped in Boston Harbor on the night of December 16 was valued at some $18,000.
Why did the colonists protest the Tea Act even though it actually lowered the price of tea?
Even though the price of tea was lowered, the colonists were angry because they were forced to buy only British East India Company’s tea and no longer could buy any tea they wanted. They also passed the Quebec Act, which prevented colonists from moving west.
What was the Tea Act Ducksters?
This was a British company and the colonies were told they could only buy tea from this one company. They were also told they had to pay high taxes on the tea. This tax was called the Tea Act. They refused to pay taxes on the tea and asked that the tea be returned to Great Britain.
Why was the Tea Act good?
This act eliminated the customs duty on the company’s tea and permitted its direct export to America. Though the company’s tea was still subject to the Townshend tax, dropping the customs duty would allow the East India Company to sell its tea for less than smuggled Dutch tea.