Union of the Crowns create a new "imperial" throne of "Great Britain". England and Scotland continued as autonomous states sharing a monarch with Ireland (with an interregnum in the 1650s during the republican unitary state of the Commonwealth and the Protectorate), until the Acts of Union of 1707 during the reign of the last Stuart monarch, Anne. In August 1503, James IV of Scotland married Margaret, eldest daughter of Henry VII of England, and the spirit of the new age was celebrated by the poet William Dunbar in "The Thrissil and the Rois". The marriage was the outcome of the Treaty of Perpetual Peace,
Acts of Union 1707 known as the Seven ill years which led to strained relations with England. In 1698, the Company of Scotland Trading to Africa and the Indies received a charter to raise capital through public subscription. The Company invested in the Darién scheme, an ambitious plan funded almost entirely by Scottish investors to build a colony on the Isthmus of Panama for trade with East Asia. The scheme was a disaster; the losses of over £150,000 severely impacted the Scottish commercial system. The financial losses incurred have often been suggested as one of the drivers behind Union. Deeper political integration had been