Growth of the American Economy
The Tea Act of 1773 was a British law that granted the British East India Company the exclusive right to sell tea in the American colonies, effectively creating a monopoly. This act aimed to help the struggling company by allowing it to sell its surplus tea directly to consumers at a lower price, bypassing colonial merchants. However, it sparked widespread outrage among colonists who viewed it as another example of taxation without representation and a threat to their economic independence.
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