yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

How Scotland Joined Great Britain


2m read
·Nov 7, 2024

Back in the 1690s, there were only two countries on the island of Great Britain: The Kingdom of Scotland and the Kingdom of England. England and the other great European powers were doing rather well for themselves by expanding their empires through the cunning use of flags. Scotland had no empire but wanted to join in the game, and thus needed to establish a colony of her very own. But where to build it?

"Panama!" declared Scotland. She imagined the colony's strategic location would make trade with the Far East safer and faster by eliminating the long journey around the hazardous Cape of Good Hope and Cape Horn, where both wind and wave delight in smashing ships against rock and ice. "Who will lend me money to make this great idea a reality?" asked Scotland.

No one, was the answer. Instead of helping, the European empires started trade wars with Scotland to limit the power of their future rival. So, poor Scotland had to fund the project herself. She gathered up all the money she could, literally put it all in a big box and, capital thusly raised, sent off a colonial ship.

400,000 pounds, 8,000 kilometers, and 111 days later, 2,500 Scotsmen landed on the shores of Panama, named it 'New Caledonia,' and immediately discovered a few small problems with their plan: First, the mountains on the western side of Panama were a wee bit larger than expected, making overland trade pretty much impossible. Even if they had thought of building a canal, the technology to do so was still 200 years away.

Second, the woolen goods brought to trade with the locals were useless in the endless heat and humidity. Third, the Spanish Conquistadors had already planted flags on the sandy beaches and weren't too happy to see the Scots arrive. And fourth, without adequate supplies, disease, such as the perennial tropical favorite, Dysentery, spread quickly.

Two years and 2,000 dead Scots later, they abandoned the project. Now, this wasn't the first failed attempt at Scottish empire—early colonies had been tried and abandoned in Nova Scotia, New Jersey, and Carolina, but the Panama debacle was particularly devastating to Scotland because she was over-invested. Remember that money-in-a-box?

Turns out it was a fifth of the wealth of the whole country. Oops. Scotland's sudden impoverishment proved a golden opportunity for The Kingdom of England, who was growing increasingly worried that her neighbor to the North would ally with an enemy. England offered Scotland a deal that would reimburse Scotland for her losses if she voted for union.

In 1707, Scotland agreed, and the Kingdom of Great Britain was born. While the surrender of independence was unpopular in Scotland, her economy improved with access to once English (now British) trade routes, and she played a formative role in what would soon be the largest empire in human history. That being said, still more than 300 years later, Scotland has never fully given up her national identity and thoughts of independence.

More Articles

View All
Who Will Win The Election?
Look, if Trump wins, we got to go long energy because the PS are the lowest of the all 11 sectors of the economy. It has been crushed by regulation, and I think it’ll be deregulated because of his idea of using lower energy prices to get inflation down. T…
Peter Lynch: How to Invest in an Overvalued Market
One thing you’re trying to do is say all these public companies out there, here’s the company I really like. The fundamentals are terrific, their earnings are doing well, the competitors are doing poorly. I think this company’s doing terrific, and all of …
Reprogramming Perception - Tech+Art | Genius: Picasso
I like to challenge my audience with sensory experiences that can almost feel threatening. I use hair, spit, semen, blood. Why do you find it disgusting? Why is that normal? Why are things so sanitized? I think, as an artist, I’m really interested in all …
How Much Information?
Have you ever noticed that people speaking Spanish sound like they’re talking really fast? Does this mean they are able to communicate information faster than English speakers? One reason why Spanish sounds so fast is because more syllables are spoken per…
First look at the Praetor 600.
This is a $24 million Embraer Phenom 600 F from London to New York, or even farther, with no problem pretty much any time of the year. How much is the first-class ticket to go from here to New York? Something between $6,000 to $9,000. For this airplane …
Ways to manage financial risk | Insurance | Financial literacy | Khan Academy
So, let’s talk a little bit about the different ways that you can manage risk. It’s generally going to fall into a few categories. You can obviously try to avoid the risk altogether or reduce it. You could say, “Alright, that risk is there, but I’m going …