Editing Darien scheme (section)

==Consequences of failure==
The failure of the Darien colonisation project has been cited as one of the motivations for the 1707 [[Acts of Union 1707|Acts of Union]].<ref>Brocklehurst, "The Banker who Led Scotland to Disaster".</ref> According to this argument, the Scottish establishment (landed aristocracy and mercantile elites) considered that their best chance of being part of a major power would be to share the benefits of England's international trade and the growth of the [[English overseas possessions]] and so its future would have to lie in unity with England. Furthermore, Scotland's nobles were almost bankrupted by the Darien fiasco.

Some Scottish nobility petitioned Westminster to wipe out the Scottish national debt and stabilise the currency. Although the first request was not met, the second was, and the [[Pound Scots|Scottish shilling]] was given the fixed value of an English penny. Personal Scottish financial interests were also involved. Scottish commissioners had invested heavily in the Darien project and believed that they would receive compensation for their losses. The 1707 Acts of Union,<ref>[http://www.parliament.uk/documents/heritage/articlesofunion.pdf 1707 Acts of Union]</ref> Article 15, granted £398,085 10s sterling to Scotland to offset future liability towards the English national debt. That amount equates to about £100 million in 2020 money.<ref>The Bank of England's inflation records only go back to 1750, and imply about £90 million from that date.</ref>  This outcome was and remains controversial: see article 
[[ Such a Parcel of Rogues in a Nation#Recordings |Such a Parcel of Rogues in a Nation]].