Company of Scotland | Wikipedia audio article
Channel: wikipedia tts
Date: 02/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Company_of_Scotland


00:01:33 1 Founding
00:04:56 2 Consequences of failure
00:05:33 3 Ships
00:06:19 4 Court of Directors, May 1696
00:07:57 5 See also
00:08:09 6 Notes and references
00:08:18 7 Sources
00:08:45 8 External links



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SUMMARY
=======
The Company of Scotland Trading to Africa and the Indies, also called the Scottish Darien Company, was an overseas trading company created by an act of the Parliament of Scotland in 1695. The Act granted the Company a monopoly of Scottish trade to India, Africa and the Americas, similar to English charter companies' monopolies, and also extraordinary sovereign rights and temporary exemptions from taxation.
Financial and political troubles plagued its early years.  The governors were divided between those residing and meeting in Edinburgh and those in London, amongst whom were both Scots and Englishmen.  They were also divided by business intentions; some intended to trade in India and on the African coast, as an effective competitor to the English East India Company, while others were drawn to William Paterson's Darien scheme, which ultimately prevailed.
In July 1698 the company launched its first expedition, led by Paterson, who hoped to establish a colony in Darien (on the Isthmus of Panama), which could then be used as a trading point between Europe and the Far East.  
Though five ships and 1,200 Scottish colonists landed successfully in Darien, the settlement was poorly provisioned and eventually abandoned. A second, larger expedition (launched before the fate of the first was known) took up the deserted settlement, but was quickly besieged by the Spanish. More than a thousand succumbed to hunger and disease, and in April 1700, two ships carried the few survivors home.