"ye": "the" vs. "thee"?

[Joel S. Berson]

I have managed to confuse myself about "ye" in 18th-century
writings.  I have understood the Y to stand for thorn.  But were both
"the" and "thee" spelled with thorn, and the latter became the "ye"
meaning "you" (in addition to the "ye" meaning "the")?

Joel

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