History Thread: TIL Scotland once held a colony in Panama

The Darien Scheme

The Darien scheme was an unsuccessful attempt by the Kingdom of Scotland to become a world trading state by establishing a colony called "Caledonia" on the Isthmus of Panama on the Gulf of Darién in the late 1690s. The aim was for the colony to have an overland route that connected the Pacific and Atlantic oceans. From its contemporary time to the present day, claims have been made that the undertaking was beset by poor planning and provisioning, divided leadership, a lack of demand for trade goods particularly caused by an English trade blockade,[1] devastating epidemics of disease, collusion between the English East India Company and the English government to frustrate it,[1] as well as a failure to anticipate the Spanish Empire's military response. It was finally abandoned in March 1700 after a siege by Spanish forces, which also blockaded the harbour.[2]

As the Company of Scotland was backed by approximately 20% of all the money circulating in Scotland, its failure left the entire Lowlands in substantial financial ruin and was an important factor in weakening their resistance to the Act of Union (completed in 1707).

TL:DR: Scotland tried to create/run a trading post on both coasts of Panama but ultimately failed so hard they were absorbed by the UK.

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