boston tea party was the effect of colonial resistance to the townshend taxes.
boston tea party was the effect of colonial resistance to the townshend taxes.
what was the effect of colonial resistance to the townshend taxes?
boston tea party
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in 1770 most of the townshend taxes were repealed, but taxes on tea were retained.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. by 1773 the company was close to collapse due in part to contractual payments to the british government of £400,000 per year, together with war and a severe famine in bengal which drastically reduced the company's revenue from india, and economic weakness in european markets. benjamin franklin was one of several people who suggested things would be greatly improved if the company were allowed to export its tea directly to the colonies without paying the taxes it was paying in london: "to export such tea to any of the british colonies or plantations in america, or to foreign parts, import duty of three pence a pound."
tea act