The major objective of the Tea Act of 1773 was to
A) enrich Lord North and his cronies.
B) bail out the East India Company.
C) stimulate England's home economy.
D) punish American tea importers.
E) reduce tea prices for Americans.

Question

Quizplus · Accepted Answer

The Tea Act of 1773 was passed primarily to bail out the struggling East India Company, which was in danger of bankruptcy due to the large amount of tea it had in storage and the decline in its sales. The act allowed the company to sell tea directly to American merchants at a lower price than they could obtain elsewhere, thereby undercutting colonial merchants and making the company's tea more competitive with smuggled Dutch tea. However, this move enraged American colonists, who saw it as an attempt by the British government to assert its authority and control over them through the monopoly of the East India Company.

The Major Objective of the Tea Act of 1773 Was