Enacted on May 10, 1773, the Tea Act required all purchases of tea to be funneled through the British East India Company which monopolized the tea industry. With the conclusion of the French and Indian War resulting in major debt, the British government reacted by increasing the tax on the vulnerable colonies to see a return on their debt. The retraction of the taxes constructed by the Townsend Act resulted in the decrease in the price of tea which looked like a good deal for the colonies but contrary to beliefs this established the ingenious plan to retain the rights to tax the colonies through the tea monopoly. The Tea Act was a ploy to keep the quickly developing colonies under control of the British government but was unsuccessful
