Alex Cox visits with DearMYRTLE, explaining that this failed Darien investment scheme lost 1/4 of Scotland’s wealth. “On the 26 June 1695, the Scottish Parliament passed an Act establishing the Company of Scotland Trading to Africa and the Indies, the company was financed entirely by public subscription.
Opposed by commercial interests from England, the company of Scotland raised subscriptions for the scheme in Amsterdam, Hamburg, and London.
English investors soon raised their share but withdrew their money after King William and the English Parliament turned against the venture. However, by August 1696 the Scottish investors raised £400,000 themselves.” Discover more about these records at FindMyPast.
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