Why did the East India Company have a surplus of tea?

In 1770 most of the Townshend taxes were repealed, but taxes on tea were retained. Resistance to this tax included pressure to avoid legally imported tea, leading to a drop in colonial demand for the Company’s tea, and a burgeoning surplus of the tea in the company’s English warehouses.

Did the British East India Company sell tea?

Provisions of the Tea Act Prior to the Tea Act, the British East India Company Tea was required to exclusively sell its tea at auction in London. This required the British East India Company to pay a tax per pound of tea sold which added to the company’s financial burdens.

How did the Tea Act help the British East India Company?

The act granted the company the right to ship its tea directly to the colonies without first landing it in England, and to commission agents who would have the sole right to sell tea in the colonies.

What happened with the British East India tea shipments?

The Boston Tea Party was a political protest that occurred on December 16, 1773, at Griffin’s Wharf in Boston, Massachusetts. American colonists, frustrated and angry at Britain for imposing “taxation without representation,” dumped 342 chests of tea, imported by the British East India Company into the harbor.

How much tea was dumped in the Boston Tea Party?

92,000 pounds
It’s estimated that the protestors tossed more than 92,000 pounds of tea into Boston Harbor. That’s enough to fill 18.5 million teabags. The present-day value of the destroyed tea has been estimated at around $1 million. 10.

How much was the British tax on tea?

three pence
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.

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 money was the tea worth that was dumped in Boston Harbor?

around $1 million

How many chests of tea were dumped in the Boston Harbor?

342 chests
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.

Is there still traces of tea in the Boston Harbor?

The Beaver, Dartmouth, and Eleanor were moored at Griffin’s Wharf in Boston. It is at this location where the December 16, 1773 destruction of the tea occurred. The original location of the Boston Tea Party no longer exists because of extensive landfills that destroyed the location.