Darien Scheme

a_ celebrated financial project, conceived and set afloat by William Paters on, a Scotch man, toward the close of the 17th century. He was the first projector of the Bank of England, but was disappointed of his just recompense. His next scheme was one of magnificent proportions. He proposed to form an —— on each side of the Isthmus of rien or Panama for the trade of the opposite continents. The settlement thus formed would become the entrepot for an immense exchange between the manufactures of Europe and the produce of South America and Asia. Paters on had designed to Darius: limit the benefits of the scheme to Scotland mainly, but had to seek help in London, where the subscriptions soon ran up to $1,500;000.. Alarm was soon excited among the English merchants at the gigantic Scotch scheme, and the English sub: script ions were withdrawn.