In 1695, the Scottish Parliament granted a charter to the Company of Scotland, which established a settlement in 1698 on the isthmus of Panama. Besieged by neighbouring Spanish colonists of New Granada, and afflicted by malaria, the colony was abandoned two years later. The Darien scheme was a financial disaster for Scotland—a quarter of Scottish capital was lost in the enterprise—and ended Scottish hopes of establishing its own overseas empire. The episode also had major political consequences, persuading the governments of both England and Scotland of the merits of a union of countries, rather than just crowns. This occurred in 1707 with the Treaty of Union, establishing the Kingdom of Great Britain. COUNT 5
QSN1 When was the Company of Scotland granted a charter? ANS1 1695 QSN2 When was Panama colonized by Scotland? ANS2 1698 QSN3 How long did the Scottish Panama colony survive? ANS3 two years QSN4 How much Scottish capital was lost in the Panama colony attempt? ANS4 a quarter QSN5 When was the Treaty of Union? ANS5 1707