How Did The Company Contribute To The Decline Of The East India Company

Looking to save their company from going under, the East India Company was searching for various solutions to this economic downfall. The first of their ideas was to have the Townshend duty repealed, but the North ministry was not willing to do that because it might be interpreted as a withdrawal from Parliament's position that it had the right to tax the colonies. Also, the tax collected from the was used to pay the salaries of some colonial governors and judges. Another possible solution for downsizing the massive surplus of tea in the East India Company warehouses was to sell it cheaply in Europe. Although this seemed like the best possible solution, it was determined that the tea would most likely be smuggled back into Great Britain,