Skip to main content

Darién Scheme

Darién Scheme, Scottish project to establish a colony on the Isthmus of Panama (Darién). In 1695, the Scottish Parliament passed an act that chartered a company for trading with Africa and the Indies. William Paterson directed the first efforts of the company to found a colony on the Isthmus of Panama to compete with the Dutch and Spanish for trade. Stock was subscribed in England and Scotland, but opposition by the English government and by the East India Company caused English investors to withdraw. The company's two expeditions (1698, 1699) failed because of poor leadership and equipment, disease, and the hostility of the Spanish; many lives were lost. The failure, with its immense losses to Scottish investors, vividly demonstrated Scotland's commercial disadvantage outside the British realm. By the terms of the Act of Union with England (1707), Scotland secured equality in trade. Investors in the Darién venture were partially indemnified for their losses.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"Darién Scheme." The Columbia Encyclopedia, 6th ed.. . Encyclopedia.com. 16 Dec. 2017 <http://www.encyclopedia.com>.

"Darién Scheme." The Columbia Encyclopedia, 6th ed.. . Encyclopedia.com. (December 16, 2017). http://www.encyclopedia.com/reference/encyclopedias-almanacs-transcripts-and-maps/darien-scheme

"Darién Scheme." The Columbia Encyclopedia, 6th ed.. . Retrieved December 16, 2017 from Encyclopedia.com: http://www.encyclopedia.com/reference/encyclopedias-almanacs-transcripts-and-maps/darien-scheme

Learn more about citation styles

Citation styles

Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA).

Within the “Cite this article” tool, pick a style to see how all available information looks when formatted according to that style. Then, copy and paste the text into your bibliography or works cited list.

Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Therefore, it’s best to use Encyclopedia.com citations as a starting point before checking the style against your school or publication’s requirements and the most-recent information available at these sites:

Modern Language Association

http://www.mla.org/style

The Chicago Manual of Style

http://www.chicagomanualofstyle.org/tools_citationguide.html

American Psychological Association

http://apastyle.apa.org/

Notes:
  • Most online reference entries and articles do not have page numbers. Therefore, that information is unavailable for most Encyclopedia.com content. However, the date of retrieval is often important. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates.
  • In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list.