Everything Everywhere Daily: History, Science, Geography, & More The Darien Scheme
Feb 18, 2026
A 17th century Scottish plan to plant a colony in Panama and seize control of inter-ocean trade. The rise of mercantilism and how English trade restrictions pushed Scotland toward a risky overseas venture. The geography and brutal realities of the Darien Gap that doomed the settlement. The national fervor, massive financial loss, and political fallout that reshaped Scotland's future.
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Mercantilism Drove Colonial Ambition
- Mercantilism treated trade as a zero-sum game, pushing nations to secure colonies for resources and favorable balances of trade.
- Scotland sought a colonial solution to escape economic constraints after the Navigation Acts limited their access to English trade.
Economic Crisis Sparked Risky Plans
- Scotland faced severe economic distress in the 1690s, including famine that killed up to 15% of the population.
- The country hoped a successful colony would generate wealth and strategic leverage to overcome domestic hardship.
Big Funding Without Institutional Depth
- The Scottish Act of Encouraging Foreign Trade legalized mercantile companies but lacked the institutional foundation of Dutch or English counterparts.
- Scotland raised nearly half a million pounds—about half the nation's liquid wealth—to fund the Darien Company.