John Prebble - The Darien Disaster

So one of the little known tales of Scottish history is the failed establishment of a Scottish colony in what is now known as Panama. It was to be called Caledonia, with the capital named New Edinburgh. It was a brilliant idea, with the establishment of reaching The Atlantic Ocean and the Pacific Ocean, The Kingdom of Scotland at the time investing one fifth of their wealth. They had brand new ships with mainly wigs, wool socks and tartan cloth to trade, funnily enough. They won a naval victory against the Spanish early on but it would be a Pyrrhic victory, as it only angered the might of the Spanish Navy who retaliated and the Scottish force surrendered. The event was a motivation for the Acts of Union 1707, as the argument that the only way Scotland could become part of a global trading power was to submit itself to England.