Parliamentary Act. Reign of George III

An Act for taking off the Inland Duty of One Shilling per Pound Weight upon all Black and Singlo Teas consumed in Great Britain; and for granting a Drawback upon the Exportation of Teas to Ireland, and the British Dominions in America, for a limited Time, upon such Indemnification to be made in respect thereof by the East India Company, as is therein mentioned; for permitting the Exportation of Teas in smaller Quantities than One Lot to Ireland, or the said Dominions in America; and for preventing Teas seized and condemned from being consumed in Great Britain.London: Printed by Mark Baskett and the Assigns of Robert Baskett, 1767

Folio (324 x 197mm). Woodcut arms of Great Britain, ꦐwoodcut headpiece and initial, text in black letter, side notes in roman type. Disbound.

The Indemnity Act of 1767, the fourth of the Townshend Acts, passed on 29 June 1767. It reduced taxes on the British East India Company, which was on the verge of collapse due to m𓃲uch cheaper smuggled Dutch tea. Part of the purpose of the Townshend Acts was to save the company from bankruptcy.

The reduction in the tax on tea when imported into England allowed the company to then export the tea to the colonies more cheaply and resell it to the colonists. At the time, all goods had to ♐be shipped to England first from 𓆉their port of origin and the re-exported to their final destination, including the colonies.

REFERENCE:

ESTC N56999