<\/p>\n\n\n\n
Boston Tea Party: 250 years ago 12\/16\/1773<\/p>\n\n\n\n
So, today\u2019s the anniversary of the Boston Tea Party. I had no clue why it was today, and other than the little bit I learned in fourth grade, I never really learned much about it at all.<\/p>\n\n\n\n
I mean, we all know about \u2018no taxation without representation\u2019 and how that led to a boycott and eventually a property destroying protest of what would be today millions of dollars of tea.<\/p>\n\n\n\n
So that boycott obviously meant no British tea was being brewed by colonists. I hadn\u2019t realized that the colonists were still getting tea from the Dutch, nor did I know exactly what the boycott of British tea meant\u2026<\/p>\n\n\n\n
The British East India Company was a huge business internationally. And during the US boycott, they continued to import tea and stored it in warehouses in the Britain. Tea is a perishable product, and it was at risk of going bad and causing a huge loss to the Company. They were relieved when Parliament finally relented in 1768 and repealed all of the acts the colonists had been protesting.
Except for the Tea Act. The three pence per pound tax stayed on tea. So colonists stayed not buying it. By 1773, the East India Company had 17 million pounds of tea worth over 2 million pounds in London. As a perishable product, its value was dropping every day.<\/p>\n\n\n\n
So, the Company was facing rising dept. They could not get a loan, so they suspended dividends to stockholders. Realizing if the Easy India Company failed, it would take the banks with them, Parliament finally stepped in. Yes, this was one of the very first companies deemed \u2018too big to fail\u2019. Parliament gave them money, and the Company sent seven ships to the Colonies laden with stale tea and other supplies.<\/p>\n\n\n\n
This tea was still taxed.<\/p>\n\n\n\n
Anger erupted through the colonies, partially because tea smugglers fed the flames of gossip. The colonists waited as the first four ships were to land in Boston. When a ship made port, according to law, all the cargo had to be offloaded 20 days after inspection, or it was confiscated and auctioned. That was December 17. The first ship arrived, and was able to unload all their cargo except the tea. Twenty five volunteers stayed and made sure of that. The next two ships were treated the same, while the fourth ship lost its cargo at sea.<\/p>\n\n\n\n
On December 16th<\/sup>, the largest town meeting in the area\u2019s history demanded that the governor send the ship back to London with the tea untouched. As noted above, if the ship wasn\u2019t unloaded the contents would be confiscated and auctioned. The govenor\u2019s sons who stood to profit off the auction, urged him not to agree to send the ship back.<\/p>\n\n\n\n A gang of 100 men and adolescents (the youngest is said to have been 13) took over all three ships. 340 chests of tea were pulled on board, opened and dumped. Protestors made sure not only that all the tea sank, raking it or holding it under the water to make sure it was gone. The men also policed themselves, emptying pockets and boots to make sure no useable tea was left or smuggled off the ships. By that evening, it was over. The ships returned safely to England, minus what would be about $1,000,000 worth in today\u2019s money of tea.<\/p>\n","protected":false},"excerpt":{"rendered":" Boston Tea Party: 250 years ago 12\/16\/1773 So, today\u2019s the anniversary of the Boston Tea Party. I had no clue why it was today, and other than the little bit I learned in fourth grade, I never really learned much about it at all. I mean, we all know about \u2018no taxation without representation\u2019 and … Continue reading Boston Tea Party: 250 years ago<\/span>