Dan Snow's History Hit Scotland's Disastrous Attempt at Empire
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Oct 8, 2024 Douglas Watt, author of "The Price of Scotland," dives into Scotland's ambitious yet disastrous attempt to colonize Panama in the late 17th century. He discusses the dreams of wealth and trade that drove the ill-fated Darien scheme, where 1,200 settlers faced harsh realities, tropical diseases, and ultimately, death. Watt reveals how this national catastrophe not only impacted those who ventured to Darien but also reshaped Scotland's economy and fueled the urgency for political union with England.
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Scotland's Darien Ambition
- The Scots attempted to establish a colony called New Caledonia in Panama in the late 17th century.
- This bold but disastrous effort was a desperate gamble to save Scotland from financial ruin and imperial insignificance.
Patterson's Risky Sell
- William Patterson, a skilled salesman and Bank of England founder, sold the risky Darien colony plan.
- He pitched it as a strategic trading hub linking Atlantic and Pacific, attracting significant Scottish investor capital.
Economic Naivety and Strategy
- Scotland sought economic growth by competing with English and Dutch colonial companies via the Darien Scheme.
- The strategic naivety was high given Scotland's weak navy and the Spanish control of the region.