Fragile Freedom

By 1773 the British East India Company had found itself skirting on the edge of bankruptcy. Between payments to the English Government, rising dividend costs, and its growing land empire, it had found itself dangerously low on money. Yet in its roughly 170 year history it had built for itself connections that wove through the ranks of British Government, moving through Parliament and the Halls of Power, all the way to Whitehall and later St. James Palace. The company was, at its core, too big and too well connected to fail, with many Members of Parliament shareholders in it. The plan from Lord Frederick North, Prime Minister and Chancellor of the Exchequer, would be to offer the beleaguered behemoth a bailout. The government would offer the company 1.4 million pounds to get it out of its current financial situation and would pass the Tea Act to give the Company and opportunity to pay back the loan. Parliament, and North, believed this to be the perfect solution. Lowering the price of the duty it would actuall