The Darien Scheme

The Darien scheme was an unsuccessful attempt by the Kingdom of Scotland to become a world trading state by establishing a colony called “Caledonia” on the Isthmus of Panama on the Gulf of Darién in the late 1690s. From its contemporary time to the present day, claims have been made that the undertaking was beset by poor planning and provisioning, divided leadership, a lack of demand for trade goods particularly caused by an English trade blockade,[1] devastating epidemics of disease, collusion between the English East India Company and the English government to frustrate it,[1] as well as a failure to anticipate the Spanish Empire’s military response. [5]

In the face of opposition by English commercial interests, the Company of Scotland raised subscriptions in Amsterdam, Hamburg and London for the scheme.

Source: en.wikipedia.org