Tinwald in Dumfries and Galloway was the birthplace of William Paterson, founder of the Bank of England and the brains behind the famous expedition to the Darien Isthmus in the 1690's. The scheme was an attempt to establish a trading presence in the New World so that Scotland could benefit economically independently of their English rivals.

The Scottish Parliament passed an act in 1683 to encourage the growth of Scottish trade. The English had established successful trading companies and the Scots had strong economic reasons for wanting to imitate them. An act, dated 1695, established what became popularly known as the Darien Company, and gave them a 31 year monopoly on trade with the colonies.

Support for the Darien Company was widespread in Scotland at the time, as is shown in this ballad which was released as a broadside. The popular feeling was that the English were not giving the Scots reasonable access to their trading colonies even though the two nations shared a monarch after the Union of the Crowns in 1603. Scotland's economy was falling behind that of the English. The Darien Company planned to set up independent colonies in Africa and the New World

This letter from Robert Douglas outlines objections to the opening of a Scottish trading post on the Darien Isthmus. The land was already claimed by the Spanish as part of their colonies, a fact which was not lost on the English traders who were happy to see the Scots embroiled with their old enemy. Unfortunately, there was little reason could do to dampen the enthusiasm of the Scots and it is believed that nearly half the population of lowland Scotland invested in the scheme.

There were plenty of reasons why the Darien Adventure ended in disaster, not least due to political disputes between England and Scotland over trading colonies. But the range of goods the Scots took with them to the New World beggars belief. These included woollen bonnets and bibles, which there wasn't a huge demand for in Central America. This cargo list was for the ship "Rising Sun" which set sail in August 1699.

Once the Darien Company had landed on the Isthmus, the settlers send a progress report to the directors of the company. The report is generally positive, with an account of the fertile land the settlers found, with exotic fruits and excellent hunting and fishing.

The Darien Colonies were abandoned on 24th June 1699 due to illness and starvation. Spanish settlers attacked the colony, claiming the land as theirs, and English settlers nearby were instructed not to help. Survivors made their way to New York. The scheme cost the lives of 2000 Scots and the company lost over £400,000, a sizeable proportion of the Scottish national wealth.

The Scottish Parliament petitioned King William to recognise their grievances in regard to the fate of the Darien colonies and asking for him to recognise the colony as a legal settlement. Although his reply acknowledges the tragic loss of the settlers, he refused to recognise the legality of the settlement and the only help he offered was in freeing Scottish prisoners held by the Spanish.

The Scottish people were devastated by the failure of the Darien Scheme and many blamed the English for their refusal to help the unfortunate settlers. These minutes outline proceedings on 10th January 1701 in the Scottish Parliament, which resulted in three resolutions condemning English interference in the scheme.

The failure of the Darien Scheme led to a wave of anti English sentiment. One victim of this sentiment was Captain Thomas Green, who was executed along with two of his crew on dubious charges of piracy after being seized at Leith Docks by a mob led by directors of the Darien Company. The captain worked for the East India Company, responsible for seizing one of the Darien Company's ships, the Annandale, for being in breach of its charter.

Although the Darien Company is best remembered for the disastrous Darien Scheme, the company did enjoy success in trading with African colonies. The African Merchant, one of three ships commissioned by the company in 1698, traded successfully along the West African coast in 1699 and returned to Scotland in 1700 with over 70lbs of Gold. The company petitioned parliament for permission to cast gold coins called Pistoles from the gold.