section_path: Scottish attempt to expand overseas
section_name: Scottish attempt to expand overseas
paragraph_text: Scottish attempt to expand overseas
  
  In 1695, the Parliament of Scotland 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 affected 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. The episode had major political consequences, helping to persuade the government of the Kingdom of Scotland of the merits of turning the personal union with England into a political and economic one under the Kingdom of Great Britain established by the Acts of Union 1707.