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179-685: The Darien scheme was an unsuccessful attempt, backed largely by investors of the Kingdom of Scotland , to gain wealth and influence by establishing New Caledonia , a colony in the Darién Gap on the Isthmus of Panama , in the late 1690s. The plan was for the colony, located on the Gulf of Darién , to establish and manage an overland route to connect the Pacific and Atlantic Oceans. The backers knew that

358-410: A Protestant Reformation that created a predominately Calvinist national kirk . There were a series of religious controversies that resulted in divisions and persecutions. The Scottish Crown developed naval forces at various points in its history, but often relied on privateers and fought a guerre de course . Land forces centred around the large common army , but adopted European innovations from

537-450: A capital city in the second half of the 15th century. The Crown remained at the centre of political life and in the 16th century emerged as a major centre of display and artistic patronage, until it was effectively dissolved with the 1603 Union of Crowns. The Scottish Crown adopted the conventional offices of western European monarchical states of the time and developed a Privy Council and great offices of state. Parliament also emerged as

716-571: A kirk minister by claiming it would be unlawful to resist the Spanish by force of arms, as all war was unchristian. Byres then deserted the colony in a sloop. The colonists sank into apathy until the arrival of Alexander Campbell of Fonab, sent by the company to organise a defence. He provided the resolute leadership which had been lacking and took the initiative by driving the Spanish from their stockade at Toubacanti in January 1700. However, Fonab

895-525: A sovereign state in northwest Europe , traditionally said to have been founded in 843. Its territories expanded and shrank, but it came to occupy the northern third of the island of Great Britain , sharing a land border to the south with the Kingdom of England . During the Middle Ages , Scotland engaged in intermittent conflict with England, most prominently the Wars of Scottish Independence , which saw

1074-456: A "three-tier system, with Gaelic at the bottom and English at the top". The Pictish and Scottish kingdoms that would form the basis of the Kingdom of Alba were largely converted by Irish-Scots missions associated with figures such as St Columba , from the 5th to the 7th centuries. These missions tended to found monastic institutions and collegiate churches that served large areas. Partly as

1253-401: A business to create goods or provide services for consumers, capital goods are important in other ways. In an industry where production equipment and materials are quite expensive, they can be a high barrier to entry for new companies. If a new business cannot afford to purchase the machines it needs to create a product, for example, it may not be able to compete as effectively in the market. Such

1432-509: A combination of kirk funds, contributions from local heritors or burgh councils and parents that could pay. They were inspected by kirk sessions, who checked for the quality of teaching and doctrinal purity. There were also large number of unregulated "adventure schools", which sometimes fulfilled a local needs and sometimes took pupils away from the official schools. Outside of the established burgh schools, masters often combined their position with other employment, particularly minor posts within

1611-401: A company might turn to another business to supply its products, but this can be expensive as well. This means that, in industries where the means of production represent a large amount of a business's start-up costs, the number of companies competing in the market is often relatively small. The acquisition of machinery and other expensive equipment often represents a significant investment for

1790-418: A company. When a business is struggling, it often puts off such purchases as long as possible, since it does not make sense to spend money on equipment if the company is not around to use it. Capital spending can be a sign that a manufacturer expects growth or at least a steady demand for its products, a potentially positive economic sign. In most cases, capital goods require a substantial investment on behalf of

1969-534: A desire, intensified after the Reformation, for women to take personal moral responsibility, particularly as wives and mothers. In Protestantism this necessitated an ability to learn and understand the catechism and even to be able to independently read the Bible, but most commentators, even those that tended to encourage the education of girls, thought they should not receive the same academic education as boys. In

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2148-520: A distinction that is often confused with David Ricardo 's. In Marxian theory, variable capital refers to a capitalist's investment in labor-power, seen as the only source of surplus-value . It is called "variable" since the amount of value it can produce varies from the amount it consumes, i.e. , it creates new value. On the other hand, constant capital refers to investment in non-human factors of production, such as plant and machinery, which Marx takes to contribute only its own replacement value to

2327-678: A great mercantile and colonial power like England. In response, several solutions were enacted by the Parliament of Scotland : in 1695 the Bank of Scotland was established; the Act for the Settling of Schools created a parish-based system of public education throughout Scotland; and the Company of Scotland was chartered with capital to be raised by public subscription to trade with "Africa and

2506-603: A key role in the economic analysis of "... growth and production, as well as the distribution of income..." Capital goods can also be immaterial, when they take the form of intellectual property . Many production processes require the intellectual property to (legally) produce their products. Just like material capital goods, they can require substantial investment, and can also be subject to amortization, depreciation, and divestment. People buy capital goods to use as static resources to make other goods, whereas consumer goods are purchased to be consumed. For example, an automobile

2685-630: A major conflict between Protesters and Resolutioners , which became a long term divide in the Kirk. At the Restoration of the monarchy in 1660, legislation was revoked back to 1633, removing the Covenanter gains of the Bishops' Wars, but the discipline of kirk sessions, presbyteries and synods were renewed. The reintroduction of episcopacy was a source of particular trouble in the south-west of

2864-425: A major factor in the process of technical innovation : All innovations—whether they involve the introduction of a new product or provide a cheaper way of producing an existing product—require that the capital goods sector shall produce a new product (machine or physical plant ) according to certain specifications . Capital goods are a constituent element of the stock of capital assets, or fixed capital and play

3043-467: A major influence on late medieval religious thought. The Wars of Independence largely closed English universities to Scots, and consequently continental universities became more significant. This situation was transformed by the founding of the University of St Andrews in 1413, the University of Glasgow in 1451 and the University of Aberdeen in 1495. Initially these institutions were designed for

3222-533: A major legal institution, gaining an oversight of taxation and policy, but was never as central to the national life. In the early period, the kings of the Scots depended on the great lords—the mormaers and toísechs—but from the reign of David I , sheriffdoms were introduced, which allowed more direct control and gradually limited the power of the major lordships. In the 17th century, the creation of Justices of Peace and Commissioners of Supply helped to increase

3401-487: A major legal institution, gaining an oversight of taxation and policy. By the end of the Middle Ages it was sitting almost every year, partly because of the frequent royal minorities and regencies of the period, which may have prevented it from being sidelined by the monarchy. In the early modern era, Parliament was also vital to the running of the country, providing laws and taxation, but it had fluctuating fortunes and

3580-599: A matter when available and to fill in any gaps with provisions from the common law embodied in Civil and Canon law , which had the advantage of being written. Under James IV the legal functions of the council were rationalised, with a royal Court of Session meeting daily in Edinburgh to deal with civil cases. In 1514, the office of justice-general was created for the Earl of Argyll (and held by his family until 1628). In 1532,

3759-554: A million by the end of the 15th century. Compared with the situation after the redistribution of population in the later Highland Clearances and the Industrial Revolution , these numbers would have been relatively evenly spread over the kingdom, with roughly half living north of the River Tay . Perhaps ten per cent of the population lived in one of many burghs that grew up in the later medieval period, mainly in

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3938-704: A more conventional venture, the company sent two ships from the Clyde, the Speedy Return and the Continent , to the Guinea coast laden with trade goods. Sea captain Robert Drummond was the master of the Speedy Return ; his brother Thomas, who had played such a large part in the second expedition, was supercargo on the vessel. Instead of trying to sell for gold as the company's directors intended, however,

4117-416: A pilot, the fleet made landfall off the coast of Darien on 2 November. The settlers christened their new home "Caledonia" declaring "we do here settle and in the name of God establish ourselves; and in honour and for the memory of that most ancient and renowned name of our Mother Country, we do, and will from henceforward call this country by the name of Caledonia; and ourselves, successors, and associates, by

4296-607: A plan for a colony on the Isthmus of Panama . Essentially the intention was to tame, occupy and administer the land of the Darién Gap , later known to be virtually untraversable. The colony was to be situated on a gateway between the Atlantic and Pacific oceans permitting trade between them – the same principle which, much later, led to the construction of the Panama Railroad , and then the Panama Canal . Paterson

4475-501: A process of religious and legal reforms. Until the 13th century, the border with England was very fluid, with Northumbria being annexed to Scotland by David I, but lost under his grandson and successor Malcolm IV in 1157. The Treaty of York (1237) fixed the boundaries with England close to the modern border. By the reign of Alexander III , the Scots had annexed the remainder of the Norwegian-held western seaboard after

4654-495: A profound impact on the development of Scottish law, establishing feudal land tenure over many parts of the south and east that eventually spread northward. Sheriffs, originally appointed by the King as royal administrators and tax collectors, developed legal functions. Feudal lords also held courts to adjudicate disputes between their tenants. By the 14th century, some of these feudal courts had developed into "petty kingdoms" where

4833-406: A result of these factors, some scholars have identified a distinctive form of Celtic Christianity , in which abbots were more significant than bishops , attitudes to clerical celibacy were more relaxed and there were some significant differences in practice with Roman Christianity, particularly the form of tonsure and the method of calculating Easter . Most of these issues had been resolved by

5012-488: A scholarly and written language. Monasteries served as repositories of knowledge and education, often running schools and providing a small educated elite, who were essential to create and read documents in a largely illiterate society. In the High Middle Ages, new sources of education arose, with song and grammar schools . These were usually attached to cathedrals or a collegiate church and were most common in

5191-561: A schoolhouse and pay a schoolmaster, while ministers and local presbyteries oversaw the quality of the education. In many Scottish towns, burgh schools were operated by local councils. By the late 17th century, there was a largely complete network of parish schools in the Lowlands, but in the Highlands basic education was still lacking in many areas. The widespread belief in the limited intellectual and moral capacity of women, vied with

5370-536: A small town of 5000, landing on 10 August. Four days later, Unicorn (commanded by Captain John Anderson ) limped into New York harbour. In a letter to Hugh Montgomerie, a Glasgow merchant, Robert Drummond reported that sickness and mortality continued to afflict the remnant of the colonists. When the Scots were told that two ships, the Olive Branch and Hopeful Beginning , had already sailed to re-supply

5549-499: A specific type of goods, i.e. , capital goods. Austrian School economist Eugen Boehm von Bawerk maintained that capital intensity was measured by the roundaboutness of production processes. Since capital is defined by him as being goods of higher-order, or goods used to produce consumer goods, and derived their value from them, being future goods. Human development theory describes human capital as being composed of distinct social, imitative and creative elements: This theory

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5728-532: A transhistorical state of affairs distinguishes different forms of capital: Adam Smith defined capital as "that part of man's stock which he expects to afford him revenue". In economic models , capital is an input in the production function . The total physical capital at any given moment in time is referred to as the capital stock (not to be confused with the capital stock of a business entity). Capital goods , real capital, or capital assets are already-produced, durable goods or any non-financial asset that

5907-671: A virtually independent Presbyterian Covenanter state in Scotland. It also helped precipitate the Wars of the Three Kingdoms , during which the Scots carried out major military interventions. After Charles I's defeat, the Scots backed the king in the Second English Civil War ; after his execution, they proclaimed his son Charles II king, resulting in the Anglo-Scottish War of 1650-1652 against

6086-433: Is a consumer good when purchased as a private car. Dump trucks used in manufacturing or construction are capital goods because companies use them to build things like roads, dams, buildings, and bridges. In the same way, a chocolate bar is a consumer good, but the machines that produce the candy are capital goods. Some capital goods can be used in both production of consumer goods or production goods, such as machinery for

6265-503: Is not really capital, because "Their economic value merely represents the power of one class to appropriate the earnings of another" and "their increase or decrease does not affect the sum of wealth in the community". Some thinkers, such as Werner Sombart and Max Weber , locate the concept of capital as originating in double-entry bookkeeping , which is thus a foundational innovation in capitalism , Sombart writing in "Medieval and Modern Commercial Enterprise" that: Karl Marx adds

6444-459: Is the basis of triple bottom line accounting and is further developed in ecological economics , welfare economics and the various theories of green economics . All of which use a particularly abstract notion of capital in which the requirement of capital being produced like durable goods is effectively removed. The Cambridge capital controversy was a dispute between economists at Cambridge, Massachusetts based MIT and University of Cambridge in

6623-531: Is used in production of goods or services . Classical and neoclassical economics describe capital as one of the factors of production (alongside the other factors: land and labour ). All other inputs to production are called intangibles in classical economics. This includes organization, entrepreneurship , knowledge, goodwill, or management (which some characterize as talent , social capital or instructional capital). Many definitions and descriptions of capital goods production have been proposed in

6802-526: Is what makes it a factor of production: These distinctions of convenience have carried over to contemporary economic theory . Adam Smith provided the further clarification that capital is a stock . As such, its value can be estimated at a point in time. By contrast, investment , as production to be added to the capital stock, is described as taking place over time ("per year"), thus a flow . Earlier illustrations often described capital as physical items, such as tools, buildings, and vehicles that are used in

6981-429: The Bank of Scotland . The bank issued pound notes from 1704, which had the face value of £12 Scots. Scottish currency was abolished after the 1707 Act of Unions, with Scottish coins in circulation being drawn in to be re-minted according to English standards. At its borders in 1707, the Kingdom of Scotland was half the size of England and Wales in area, but with its many inlets, islands and inland lochs , it had roughly

7160-676: The Bay of Darien , and make the Isle called the Golden Island ... some few leagues to the leeward of the mouth of the great River of Darien ... and there make a settlement on the mainland". The fleet called at Madeira and the West Indies , and took possession of Crab Isle which would be taken over by the Danish after the failure of the colony. Employing ex-buccaneer Robert Allison as

7339-680: The College of Justice was founded, leading to the training and professionalisation of lawyers. David I is the first Scottish king known to have produced his own coinage. After the union of the Scottish and English crowns in 1603, the Pound Scots was reformed to closely match sterling coin . The Bank of Scotland issued pound notes from 1704. Scottish currency was abolished by the Acts of Union 1707; however, Scotland has retained unique banknotes to

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7518-476: The Continent on the Malabar coast when he decided she was of no use to him, and he later scuttled the Speedy Return after transferring her crew to a merchant ship that he had taken. The Drummonds apparently decided against returning to Scotland, where they would have had to explain the loss of the ships they had been entrusted with, and no more was ever heard of them. The company sent out another ship, but she

7697-750: The Glorious Revolution of 1688–1689, in which James VII was deposed by his daughter Mary and her husband William of Orange in England, Scotland accepted them under the Claim of Right Act 1689 , but the deposed main hereditary line of the Stuarts became a focus for political discontent known as Jacobitism , leading to a series of invasions and rebellions mainly focused on the Scottish Highlands. After severe economic dislocation in

7876-702: The Hopeful Beginning , and landed in Port Royal harbour. The Scots were not allowed ashore, and illness struck the crowded ship. On 20 September, Thomas E. Drummond set sail from New York in the sloop Ann of Caledonia , (formerly the Anne ), picking up another fully supplied vessel (the Society ) on the way. They arrived in Darien to find the burnt timbers of the Olive Branch rotting on the shore. Word of

8055-540: The Late Middle Ages , Early Scots , then called English, became the dominant spoken language of the kingdom, aside from in the Highlands and Islands and Galloway . It was derived largely from Old English, with the addition of elements from Gaelic and French. Although resembling the language spoken in northern England, it became a distinct dialect from the late 14th century onwards. It began to be adopted by

8234-602: The Massacre of Glencoe . In some eyes they appeared to be a clique , and this was to cause much suspicion among other members of the expedition. The first Council (appointed in July 1698), which was to govern the colony until a parliament was established, consisted of Major James Cunningham of Eickett, Daniel Mackay, James Montgomerie, William Vetch, Robert Jolly, Robert Pinkerton and Captain Robert Pennecuik (commodore of

8413-604: The Navigation Acts further increased economic dependence on England by limiting Scotland's shipping, and the Royal Scots Navy was relatively small. Though the unusual cold affected much of the Northern Hemisphere, Scotland suffered disproportionately and lost 10-15% of its entire population, possibly due to its political isolation. A series of domestic conflicts, including the 1639–51 Wars of

8592-492: The 10th century until before the Black Death arrived in 1349, estimates based on the amount of farmable land suggest that population may have grown from half a million to a million. Although there is no reliable documentation on the impact of the plague, there are many anecdotal references to abandoned land in the following decades. If the pattern followed that in England, then the population may have fallen to as low as half

8771-588: The 11th century is largely speculative, but it was probably a mixture of legal traditions representing the different cultures inhabiting the land at the time, including Celtic , Britonnic , Irish and Anglo-Saxon customs. The legal tract, the Leges inter Brettos et Scottos , set out a system of compensation for injury and death based on ranks and the solidarity of kin groups. There were popular courts or comhdhails , indicated by dozens of place names in eastern Scotland. In Scandinavian-held areas, Udal law formed

8950-568: The 12th century, the writer Adam of Dryburgh described lowland Lothian as "the Land of the English in the Kingdom of the Scots". At least from the accession of David I, Gaelic ceased to be the main language of the royal court and was probably replaced by French, as evidenced by reports from contemporary chronicles, literature and translations of administrative documents into the French language. In

9129-643: The 1380s. They were almost exclusively aimed at boys, but by the end of the 15th century, Edinburgh also had schools for girls, sometimes described as "sewing schools", and probably taught by lay women or nuns. There was also the development of private tuition in the families of lords and wealthy burghers. The growing emphasis on education cumulated with the passing of the Education Act 1496 , which decreed that all sons of barons and freeholders of substance should attend grammar schools to learn "perfyct Latyne". All this resulted in an increase in literacy, but which

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9308-525: The 1690s, there were moves that led to political union with England as the Kingdom of Great Britain , which came into force on 1 May 1707. The English and Scottish parliaments were replaced by a combined Parliament of Great Britain , which sat in Westminster and largely continued English traditions without interruption. Forty-five Scots were added to the 513 members of the House of Commons and 16 Scots to

9487-461: The 1690s. Significant languages in the medieval kingdom included Gaelic , Old English , Norse and French ; but by the early modern era Middle Scots had begun to dominate. Christianity was introduced into Scotland from the 6th century. In the Norman period the Scottish church underwent a series of changes that led to new monastic orders and organisation. During the 16th century, Scotland underwent

9666-561: The 16th century emerged as a major centre of display and artistic patronage, until it was effectively dissolved with the Union of the Crowns in 1603. The Scottish Crown adopted the conventional offices of western European courts, including High Steward , Chamberlain , Lord High Constable , Earl Marischal and Lord Chancellor . The King's Council emerged as a full-time body in the 15th century, increasingly dominated by laymen and critical to

9845-672: The 16th century; and many Scots took service as mercenaries and as soldiers for the English Crown. From the 5th century on, north Britain was divided into a series of petty kingdoms. Of these, the four most important were those of the Picts in the north-east, the Scots of Dál Riata in the west, the Britons of Strathclyde in the south-west and the Anglian kingdom of Bernicia (which united with Deira to form Northumbria in 653) in

10024-452: The 190 members of the House of Lords . It was also a full economic union, replacing the Scottish systems of currency, taxation and laws regulating trade. The unified kingdom of Alba retained some of the ritual aspects of Pictish and Scottish kingship. These can be seen in the elaborate ritual coronation at the Stone of Scone at Scone Abbey . While the Scottish monarchy in the Middle Ages

10203-739: The Church in Scotland remained relatively stable before the 16th century. During the 16th century, Scotland underwent a Protestant Reformation that created a predominately Calvinist national church, the Church of Scotland (also known as 'the Kirk' ), which was strongly Presbyterian in outlook, severely reducing the powers of bishops, although not abolishing them. The teachings of first Martin Luther and then John Calvin began to influence Scotland, particularly through Scottish scholars who had visited continental and English universities. Particularly important

10382-483: The College of Justice as a supreme court of appeal. David I is the first Scottish king known to have produced his own coinage. There were soon mints at Edinburgh, Berwick and Roxburgh . Early Scottish coins were similar to English ones, but with the king's head in profile instead of full face. The number of coins struck was small and English coins probably remained more significant in this period. The first gold coin

10561-575: The Crown gained greater political control at the expense of independent lords and regained most of its lost territory to around the modern borders of the country. The dowry of the Orkney and Shetland Islands, by the Norwegian crown, in 1468 was the last great land acquisition for the kingdom. In 1482 the border fortress of Berwick—the largest port in medieval Scotland—fell to the English once again; this

10740-552: The Darien colonisation project has been cited as one of the motivations for the 1707 Acts of Union . According to this argument, the Scottish establishment (landed aristocracy and mercantile elites) considered that their best chance of being part of a major power would be to share the benefits of England's international trade and the growth of the English overseas possessions and so its future would have to lie in unity with England. Furthermore, Scotland's nobles were almost bankrupted by

10919-446: The Darien colony was built is located in the modern territory of Guna Yala , an autonomous indigenous territory home to the Guna people . The late 17th century was a difficult period for Scotland, as it was for much of Europe; the years 1695-97 saw catastrophic famine in present-day Estonia, Finland, Latvia, Norway and Sweden, plus an estimated two million deaths in France and Northern Italy. The 1690s were Scotland's coldest decade in

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11098-569: The Darien fiasco. Some Scottish nobility petitioned Westminster to wipe out the Scottish national debt and stabilise the currency. Although the first request was not met, the second was, and the Scottish shilling was given the fixed value of an English penny. Personal Scottish financial interests were also involved. Scottish commissioners had invested heavily in the Darien project and believed that they would receive compensation for their losses. The 1707 Acts of Union, Article 15, granted £398,085 10s sterling to Scotland to offset future liability towards

11277-421: The Drummond brothers had exchanged the goods for slaves, whom they sold in Madagascar . Carousing with the buccaneers for whom the island was a refuge, the Drummonds fell in with pirate John Bowen , who offered them loot if they would lend him their ships for a raid on homeward bound Indiamen . Drummond backed out of the agreement, only to have Bowen appropriate the ships while Drummond was ashore. Bowen burnt

11456-435: The East India Company by breaking into the lucrative trading areas of the Indies and Africa was forgotten, and the highly ambitious Darien scheme was adopted by the company. Paterson later fell from grace when a subordinate embezzled funds from the company, took back Paterson's stock and expelled him from the Court of Directors; he was to have little real influence on events after this point. Historian Stephen Mullen referred to

11635-427: The English and French. In the mid-16th century, the Scottish Reformation was strongly influenced by Calvinism , leading to widespread iconoclasm and the introduction of a Presbyterian system of organisation and discipline that would have a major impact on Scottish life. In the late 16th century, James VI emerged as a major intellectual figure with considerable authority over the kingdom. In 1603, he inherited

11814-401: The English national debt. That amount equates to about £100 million in 2020 money. This outcome was and remains controversial: see article Such a Parcel of Rogues in a Nation . Other Scottish settlements in the Americas : Kingdom of Scotland The Kingdom of Scotland ( Scottish Gaelic : Rìoghachd na h-Alba ; Scots : Kinrick o Scotland , Norn : Kongungdum Skotland ) was

11993-513: The English rate. The Scottish penny became a base metal coin by c.  1484 and virtually disappeared as a separate coin from c.  1513 onwards. In 1356, an English proclamation banned the lower quality Scottish coins from being circulated in England. After the union of the Scottish and English crowns in 1603, the Pound Scots was reformed to closely match coins of the pound sterling , with £12 Scots equal to £1 sterling. The Parliament of Scotland enacted proposals in 1695 to set up

12172-436: The English. Fury at the country's impotence led to the scapegoating and hanging of three innocent English sailors. In July 1704, Thomas Green , the 25-year-old master of the Worcester , an English merchant ship, arrived at Leith . Mackenzie convinced himself that the ship was an East India Company ship that should be seized in reprisal for the Annandale . He succeeded in getting legal authority and Green, who had been given

12351-423: The French and martyrs for the Protestant cause. Limited toleration and the influence of exiled Scots and Protestants in other countries, led to the expansion of Protestantism, with a group of lairds declaring themselves Lords of the Congregation in 1557. By 1560, a relatively small group of Protestants were in a position to impose reform on the Scottish church. A confession of faith, rejecting papal jurisdiction and

12530-460: The Hamburg investors. This left no source of finance but Scotland itself. Returning to Edinburgh , the Company of Scotland for Trading to Africa raised £400,000 sterling in a few weeks (equivalent to roughly £66 million today), with investments from every level of society, and totalling about a fifth of the wealth of Scotland. It was, for Scotland, a massive amount of capital. Scottish-born trader and financier William Paterson had long promoted

12709-528: The Highlands and Islands in the north and west and the Lowlands in the south and east. The highlands are further divided into the Northwest Highlands and the Grampian Mountains by the fault line of the Great Glen . The Lowlands are divided into the fertile belt of the Central Lowlands and the higher terrain of the Southern Uplands , which included the Cheviot Hills , over which the border with England ran. The Central Lowland belt averages about 50 miles (80 kilometres) in width and, because it contains most of

12888-498: The Highlands and to create a cultural gulf with the Lowlands. From the mid-16th century, written Scots was increasingly influenced by the developing Standard English of Southern England due to developments in royal and political interactions with England. With the increasing influence and availability of books printed in England, most writing in Scotland came to be done in the English fashion. Unlike many of his predecessors, James VI generally despised Gaelic culture. Having extolled

13067-634: The Indies". In the face of opposition by English commercial interests, the Company of Scotland raised subscriptions in Amsterdam , Hamburg and London for the scheme. For his part, King William II of Scotland and III of England had given only lukewarm support to the whole Scottish colonial endeavour. England was at war with France and hence did not want to offend Spain, which claimed the territory as part of New Granada . One reason for English opposition to

13246-537: The Jamaican city of Port Royal , but it was refused assistance on the orders of the English government, who feared antagonising the Spanish. Those on the single ship that returned home found themselves regarded as a disgrace to their country, and were even disowned by their families. The Caledonia , with 250 survivors, including William Paterson and the Drummond brothers, made a desperate passage to New York, then just

13425-407: The King of Strathclyde before inheriting the throne of Alba; he is credited with later annexing parts of Lothian, including Edinburgh, from the Kingdom of Northumbria. The reign of David I has been characterised as a " Davidian Revolution ", in which he introduced a system of feudal land tenure, established the first royal burghs in Scotland and the first recorded Scottish coinage, and continued

13604-466: The King's courts did not have authority except for cases of treason. Burghs also had their local laws dealing mostly with commercial and trade matters and may have become similar in function to sheriff's courts. Ecclesiastical courts had exclusive jurisdiction over matters such as marriage, contracts made on oath, inheritance and legitimacy. Judices were often royal officials who supervised baronial, abbatial and other lower-ranking "courts". However,

13783-529: The Kingdom of Alba/Scotland, and he was later credited with bringing Scottish Christianity into conformity with the Catholic Church. Máel Coluim I (Malcolm I) ( r.   c. 943–954) is believed to have annexed the Kingdom of Strathclyde , over which the kings of Alba had probably exercised some authority since the later 9th century. His successor, Indulf the Aggressor , was described as

13962-536: The Royal College of Justice was founded, leading to the training and professionalisation of an emerging group of career lawyers. The Court of Session placed increasing emphasis on its independence from influence, including from the king, and superior jurisdiction over local justice. Its judges were increasingly able to control entry to their own ranks. In 1672, the High Court of Justiciary was founded from

14141-539: The Scheme was the then prevalent economic theory of mercantilism , a concept as widespread and accepted then as capitalism is today. Modern economics generally assumes a constantly growing market but mercantilism viewed it as static; that meant increasing one's market share required taking it from someone else. This meant the Darien Scheme was not simply competition but an active threat to English merchants. England

14320-729: The Scots assert their independence from the English. Following the annexation of the Hebrides and the Northern Isles from Norway in 1266 and 1472 respectively, and the capture of Berwick by England in 1482, the territory of the Kingdom of Scotland corresponded to that of modern-day Scotland , bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to

14499-507: The Scots were allowed to leave with their guns, and the colony was abandoned for the last time. Only a handful of those from the second expedition returned to Scotland. Of the total 2500 settlers that set off, just a few hundred survived. The failure of the colonisation project provoked tremendous discontent throughout Lowland Scotland, where almost every family had been affected. Some held the English responsible, and others believed that they could and should assist in yet another effort at making

14678-464: The Scottish church established its independence from England, developed a clearer diocesan structure, becoming a "special daughter of the see of Rome", but lacking leadership in the form of Archbishops. In the late Middle Ages, the problems of schism in the Catholic Church allowed the Scottish Crown to gain greater influence over senior appointments and two archbishoprics had been established by

14857-408: The Three Kingdoms and unrest related to religious differences between 1670-1690 exhausted the people and diminished their resources. The so-called " seven ill years " of the 1690s saw widespread crop failures and famine, while Scotland's deteriorating economic position led to calls for a political or customs union with England. However, the stronger feeling among Scots was that the country should become

15036-476: The UK about the measurement of capital. The Cambridge, UK economists, including Joan Robinson and Piero Sraffa claimed that there is no basis for aggregating the heterogeneous objects that constitute 'capital goods.' Political economists Jonathan Nitzan and Shimshon Bichler have suggested that capital is not a productive entity, but solely financial and that capital values measure the relative power of owners over

15215-476: The University of Glasgow in 1574. He placed an emphasis on simplified logic and elevated languages and sciences to the same status as philosophy, allowing accepted ideas in all areas to be challenged. He introduced new specialist teaching staff, replacing the system of "regenting", where one tutor took the students through the entire arts curriculum. Metaphysics were abandoned and Greek became compulsory in

15394-579: The administration of justice. The Privy Council , which developed in the mid-16th century, and the great offices of state, including the chancellor, secretary and treasurer , remained central to the administration of the government, even after the departure of the Stuart monarchs to rule in England from 1603. However, it was often sidelined and was abolished after the Acts of Union 1707 , with rule direct from London. The Parliament of Scotland also emerged as

15573-521: The aggrandisement associated with the New Monarchs elsewhere in Europe. Theories of constitutional monarchy and resistance were articulated by Scots, particularly George Buchanan , in the 16th century, but James VI of Scotland advanced the theory of the divine right of kings , and these debates were restated in subsequent reigns and crises. The court remained at the centre of political life, and in

15752-574: The basis of the legal system and it is known that the Hebrides were taxed using the Ounceland measure. Althings were open-air governmental assemblies that met in the presence of the Jarl and the meetings were open to virtually all "free men". At these sessions decisions were made, laws passed and complaints adjudicated. The introduction of feudalism in the reign of David I of Scotland would have

15931-419: The colonists. Most serious was the near-total failure to sell any goods to the few passing traders who put into the bay. With the onset of summer the following year, malaria and fever led to many deaths. Eventually, the mortality rate rose to ten settlers a day. Natives brought gifts of fruit and plantains , but these were appropriated by the leaders and sailors, who mostly remained on board ships. The only luck

16110-443: The command at 21, watched as his ship's cargo was impounded and the sails, guns and rudder were removed over the next three months. In December, the crew was arrested for piracy. Although many in Scotland were delighted, it soon became clear to the directors of the Darien company that Mackenzie's charges were not supported by any proof, and it seemed the men would be released. However, Mackenzie suddenly claimed to have ascertained from

16289-506: The commodities it is used to produce. Investment or capital accumulation , in classical economic theory, is the production of increased capital. Investment requires that some goods be produced that are not immediately consumed, but instead used to produce other goods as capital goods . Investment is closely related to saving , though it is not the same. As Keynes pointed out, saving involves not spending all of one's income on current goods or services, while investment refers to spending on

16468-422: The council had to give was alcohol, and drunkenness became common, even though it sped the deaths of men already weakened by dysentery , fever and the rotting, worm-infested food. After just eight months, the colony was abandoned in July 1699, except for six men who were too weak to move. The deaths continued on the ships, and only 300 of the 1200 settlers survived. A desperate ship from the colony had called in at

16647-593: The country, an area with strong Presbyterian sympathies. Abandoning the official church, many of the people here began to attend illegal field assemblies led by excluded ministers, known as conventicles . In the early 1680s, a more intense phase of persecution began, in what was later to be known in Protestant historiography as " the Killing Time ". After the Glorious Revolution, Presbyterianism

16826-538: The crew of the Worcester that Green had drunkenly boasted of taking the Speedy Return , killing the Drummonds and burning the ship. Green and two of his crew, John Madden and James Simpson, were sent for trial in Edinburgh. Mackenzie produced several witnesses including members of Green's crew; their statements contradicted one another and none of them could accurately describe the dates, locations, or descriptions of

17005-467: The developing burghs. By the end of the Middle Ages grammar schools could be found in all the main burghs and some small towns. There were also petty schools, more common in rural areas and providing an elementary education. Some monasteries, like the Cistercian abbey at Kinloss , opened their doors to a wider range of students. The number and size of these schools seems to have expanded rapidly from

17184-473: The disaster. Rival claims have been made suggesting that the undertaking was beset by poor planning and provisioning; divided leadership; a lack of trade with local indigenous tribes or neighbouring Dutch and English colonies; epidemics of tropical disease; widespread opposition to the scheme from commercial interests in England; and a failure to anticipate a military response from the Spanish Empire . It

17363-435: The dominant method for classification. Capital can be increased by the use of the factors of production , which however excludes certain durable goods like homes and personal automobiles that are not used in the production of saleable goods and services. In Marxian critique of political economy , capital is viewed as a social relation . Critical analysis of the economists portrayal of the capitalist mode of production as

17542-459: The early 17th century. Calculations based on hearth tax returns for 1691 indicate a population of 1,234,575, but this figure may have been seriously effected by the subsequent famines of the late 1690s. By 1750, with its suburbs, Edinburgh reached 57,000. The only other towns above 10,000 by the same time were Glasgow with 32,000, Aberdeen with around 16,000 and Dundee with 12,000. Historical sources, as well as place name evidence, indicate

17721-509: The east and south. They would have had a mean population of about 2000, but many would have been much smaller than 1000 and the largest, Edinburgh, probably had a population of over 10,000 by the end of the Medieval era. Price inflation, which generally reflects growing demand for food, suggests that the population probably expanded in the first half of the 16th century, levelling off after the famine of 1595, as prices were relatively stable in

17900-401: The effectiveness of local government. The continued existence of courts baron and the introduction of kirk sessions helped consolidate the power of local lairds . Scots law developed in the Middle Ages and was reformed and codified in the 16th and 17th centuries. Under James IV the legal functions of the council were rationalised, with Court of Session meeting daily in Edinburgh. In 1532,

18079-523: The emerging republican regime of Parliamentarians in England led by Oliver Cromwell . The results were a series of defeats and the short-lived incorporation of Scotland into the Commonwealth of England, Scotland and Ireland (1653–1660) . After the 1660 restoration of the monarchy , Scotland regained its separate status and institutions, while the centre of political power remained in London. After

18258-440: The end of the 15th century. While some historians have discerned a decline of monasticism in the late Middle Ages, the mendicant orders of friars grew, particularly in the expanding burghs , to meet the spiritual needs of the population. New saints and cults of devotion also proliferated. Despite problems over the number and quality of clergy after the Black Death in the 14th century, and some evidence of heresy in this period,

18437-526: The excise, allowing the completion of buildings including the college in the High Street in Glasgow. They were still largely seen as a training school for clergy, and came under the control of the hard line Protestors . After the Restoration there was a purge of the universities, but much of the intellectual advances of the preceding period was preserved. The universities recovered from the upheavals of

18616-410: The expedition created a misleading impression that everything was going according to plan. This seems to have been by agreement, as certain optimistic phrases kept recurring. However, it meant the Scottish public would be completely unprepared for the coming disaster. Agriculture proved difficult and the natives, though hostile to Spain, were unwilling to trade for the combs and other trinkets offered by

18795-459: The expedition fleet). The first expedition of five ships ( Saint Andrew , Caledonia , Unicorn , Dolphin , and Endeavour ) set sail from the east coast port of Leith to avoid observation by English warships in July 1698, with around 1200 people on board. The journey around Scotland for those kept below deck was so traumatic that some colonists thought it comparable to the worst parts of the whole Darien experience. Their orders were "to proceed to

18974-471: The extreme case of the upper Grampians an ice free season of four months or less and for much of the Highlands and Uplands of seven months or less. The early modern era also saw the impact of the Little Ice Age , with 1564 seeing thirty-three days of continual frost, where rivers and lochs froze, leading to a series of subsistence crises until the 1690s. From the formation of the Kingdom of Alba in

19153-439: The fate of the ship, the remaining councillors refused to pardon them. Green, Madden and Simpson were subjected to derision and insults by the mob before they were hanged. Green had complete faith that as an innocent man, he would be reprieved, and he was still looking to the Edinburgh road for a messenger as the hangman placed the hood over his head. The remainder of Green's crew were quietly pardoned and released. The failure of

19332-490: The first expedition did not reach Scotland in time to prevent a second voyage of more than 1000 people. After the perilous route round the north of Scotland taken by the previous ships, William Paterson wrote to the Directors; "For God's sake, .. be sure to send the next fleet from the Clyde, for the passage north about is worse than the whole voyage to the Indies." A new company flagship, The Rising Sun , boasting 38 cannon,

19511-494: The first sighting of the Pacific Ocean by Vasco Núñez de Balboa was after crossing the isthmus through Darién . The expedition also claimed sovereignty over "Crab Isle" (modern day Vieques, Puerto Rico ) in 1698, yet sovereignty was short-lived. The attempt at settling the area did not go well; more than 80 percent of participants died within a year, and the settlement was abandoned twice. There are many explanations for

19690-532: The first year followed by Aramaic , Syriac and Hebrew , launching a new fashion for ancient and biblical languages. Glasgow had probably been declining as a university before his arrival, but students now began to arrive in large numbers. He assisted in the reconstruction of Marischal College , Aberdeen , and in order to do for St Andrews what he had done for Glasgow, he was appointed Principal of St Mary's College, St Andrews , in 1580. The University of Edinburgh developed out of public lectures were established in

19869-459: The following division: Separate literatures have developed to describe both natural capital and social capital . Such terms reflect a wide consensus that nature and society both function in such a similar manner as traditional industrial infrastructural capital, that it is entirely appropriate to refer to them as different types of capital in themselves. In particular, they can be used in the production of other goods, are not used up immediately in

20048-435: The form of a durable good that is used in the production of goods or services. Capital goods are a particular form of economic good and are tangible property . Capital goods are one of the three types of producer goods , the other two being land and labour . The three are also known collectively as "primary factors of production ". This classification originated during the classical economics period and has remained

20227-489: The good quality agricultural land and has easier communications, could support most of the urbanisation and elements of conventional government. However, the Southern Uplands, and particularly the Highlands were economically less productive and much more difficult to govern. Its east Atlantic position means that Scotland has very heavy rainfall: today about 700 mm per year in the east and over 1000 mm in

20406-540: The harbour appeared to be a natural one, it later proved to have tides that could easily wreck a vessel trying to leave. The colony was a potential threat to the Spanish Empire by being located near routes used for silver shipments. The feasibility of the scheme, especially for a country of Scotland's limited resources, has often been considered doubtful, although some modern authorities consider that it might have possessed good prospects of success if it had been given

20585-465: The humanist and historian Hector Boece , born in Dundee, returned from Paris to become the first principal at the new university of Aberdeen. These international contacts helped integrate Scotland into a wider European scholarly world and would be one of the most important ways in which the new ideas of humanism were brought into Scottish intellectual life. The humanist concern with widening education

20764-638: The huts, which caused others to complain that they had come to join a settlement, not build one. Morale was low and little progress was made. Drummond insisted there could be no discussion, and the fort must be rebuilt as a Spanish attack would surely come soon. Drummond clashed with the merchant James Byres, who maintained that the Counsellors of the first expedition had now lost that status and had Drummond arrested. Initially bellicose, Byres began to send away all those he suspected of being offensively minded – or of being allegiant to Drummond. He outraged

20943-508: The kirk, such as clerk. At their best, the curriculum included catechism , Latin , French , Classical literature and sports. In 1616, an act in Privy council commanded every parish to establish a school "where convenient means may be had", and when the Parliament of Scotland ratified this with the Education Act 1633 , a tax on local landowners was introduced to provide the necessary endowment. A loophole which allowed evasion of this tax

21122-654: The land. From the 14th century, there are surviving examples of early Scottish legal literature, such as the Regiam Majestatem (on procedure at the royal courts) and the Quoniam Attachiamenta (on procedure at the barons court), which drew on both common and Roman law . Customary laws, such as the Law of Clan MacDuff , came under attack from the Stewart Dynasty which consequently extended

21301-540: The lands of the Scottish lords dispossessed by Robert I and his successors in the 14th century in the Wars of Independence (1296–1357). The king of France attempted to thwart the exercise, under the terms of what became known as the Auld Alliance , which provided for mutual aid against the English. In the 15th and early 16th centuries, under the Stewart Dynasty , despite a turbulent political history,

21480-422: The late 17th to the early 18th centuries and perhaps 85 percent for women of all ranks by 1750, compared with 35 per cent for men. Among the nobility there were many educated and cultured women, of which Mary, Queen of Scots is the most obvious example. After the Reformation, Scotland's universities underwent a series of reforms associated with Andrew Melville , who returned from Geneva to become principal of

21659-437: The literature. Capital goods are generally considered one-of-a-kind, capital intensive products that consist of many components. They are often used as manufacturing systems or services themselves. Examples include hand tools , machine tools , data centers , oil rigs , semiconductor fabrication plants , and wind turbines . Their production is often organized in projects, with several parties cooperating in networks. This

21838-473: The local Norn , which lingered until the end of the 18th century, and Norse may also have survived as a spoken language until the 16th century in the Outer Hebrides . French , Flemish and particularly English became the main languages of Scottish burghs, most of which were located in the south and east, an area to which Anglian settlers had already brought a form of Old English. In the later part of

22017-403: The lower ranks of society, they benefited from the expansion of the parish schools system that took place after the Reformation, but were usually outnumbered by boys, often taught separately, for a shorter time and to a lower level. They were frequently taught reading, sewing and knitting, but not writing. Female illiteracy rates based on signatures among female servants were around 90 percent, from

22196-462: The main official of law in the post-Davidian Kingdom of the Scots was the Justiciar who held courts and reported to the king personally. Normally, there were two Justiciarships, organised by linguistic boundaries: the Justiciar of Scotia and the Justiciar of Lothian , but sometimes Galloway also had its own Justiciar. Scottish common law , the jus commune , began to take shape at the end of

22375-429: The majority of the population was probably still Catholic in persuasion and the Kirk would find it difficult to penetrate the Highlands and Islands, but began a gradual process of conversion and consolidation that, compared with reformations elsewhere, was conducted with relatively little persecution. In 1635, Charles I authorised a book of canons that made him head of the Church, ordained an unpopular ritual and enforced

22554-425: The mass, was adopted by Parliament in 1560 . The Calvinism of the reformers led by Knox resulted in a settlement that adopted a Presbyterian system and rejected most of the elaborate trappings of the Medieval church. This gave considerable power within the new Kirk to local lairds, who often had control over the appointment of the clergy, and resulting in widespread, but generally orderly, iconoclasm . At this point

22733-440: The men should be pardoned, but the common people demanded for the sentence to be carried out. Nineteen councillors made excuses to stay away from the deliberations on a reprieve, fearing the wrath of a huge mob that had arrived in Edinburgh to demand the sailors be put to death. Even though they had affidavits from London by two of the crew of the Speedy Return , who testified that Green and his crew had no knowledge or involvement in

22912-541: The mid-7th century. After the reconversion of Scandinavian Scotland from the 10th century, Christianity under papal authority was the dominant religion of the kingdom. In the Norman period, the Scottish church underwent a series of reforms and transformations. With royal and lay patronage, a clearer parochial structure based around local churches was developed. Large numbers of new foundations, which followed continental forms of reformed monasticism, began to predominate and

23091-413: The mid-century with a lecture-based curriculum that was able to embrace economics and science, offering a high quality liberal education to the sons of the nobility and gentry. Capital (economics) Capital goods have also been called complex product systems ( CoPS ). The means of production is as a "...series of heterogeneous commodities, each having specific technical characteristics ..." in

23270-488: The name of Caledonians". With Drummond in charge, they dug a ditch through the neck of land that divided one side of the harbour in Caledonia Bay from the ocean, and constructed Fort St Andrew, which was equipped with fifty cannons , but no source of fresh water. A BBC report in 2014 identified this ditch as the only identifiable remnant of Caledonia. A watchhouse on a mountain completed the fortifications. Although

23449-407: The now deserted colony, Thomas Drummond commissioned two sloops to aid their efforts in Darien. In August 1699, the Olive Branch and Hopeful Beginning with 300 settlers arrived in Darien to find ruined huts and 400 overgrown graves. Expecting a bustling town, the ship's captains debated their next move. When the Olive Branch was destroyed by an accidental fire, the survivors fled to Jamaica in

23628-624: The past 750 years as documented in tree ring records . Scotland's economy was relatively small, its range of exports was limited, and it was in a weak position in relation to England, its powerful neighbour (with which it was in personal but not yet political union ). In an era of economic rivalry in Europe, Scotland was incapable of protecting itself from the effects of English competition and legislation. The kingdom had no reciprocal export trade and its once-thriving industries such as shipbuilding were in deep decline; goods that were in demand had to be bought from England for sterling . Moreover,

23807-462: The peace and the Commissioner of Supply helped to increase the effectiveness of local government. The continued existence of courts baron and introduction of kirk sessions helped consolidate the power of local lairds . Scots law developed into a distinctive system in the Middle Ages and was reformed and codified in the 16th and 17th centuries. Knowledge of the nature of Scots law before

23986-613: The period, assimilating Gaelic and Britonnic law with practices from Anglo-Norman England and the Continent. There is some evidence that, during the period of English control over Scotland, Edward I of England attempted to abolish Scottish laws in opposition to English law as he had done in Wales . Under Robert I in 1318, a parliament at Scone enacted a code of law that drew upon older practices. It codified procedures for criminal trials and protections for vassals from ejection from

24165-484: The present day. Geographically, Scotland is divided between the Highlands and Islands and the Lowlands . The Highlands had a relatively short growing season, which was even shorter during the Little Ice Age . Scotland's population at the start of the Black Death was about 1 million; by the end of the plague, it was only half a million. It expanded in the first half of the 16th century, reaching roughly 1.2 million by

24344-425: The process of production, and can be enhanced (if not created) by human effort. There is also a literature of intellectual capital and intellectual property law . However, this increasingly distinguishes means of capital investment, and collection of potential rewards for patent , copyright (creative or individual capital ), and trademark (social trust or social capital) instruments. Building on Marx, and on

24523-406: The producer, and their purchase is usually referred to as a capital expense. These goods are important to businesses because they use these items to make functional goods for customers or to provide consumers with valuable services. As a result, they are sometimes referred to as producers' goods, production goods, or means of production. In the theory of international trade, the causes and nature of

24702-403: The production of a product (e.g., machines and storage facilities), while the latter referred to physical assets consumed in the process of production (e.g., raw materials and intermediate products). For an enterprise, both were types of capital. Economist Henry George argued that financial instruments like stocks, bonds, mortgages, promissory notes, or other certificates for transferring wealth

24881-491: The production of dump trucks. Consumption is the logical result of all economic activity, but the level of future consumption depends on the future capital stock, and this in turn depends on the current level of production in the capital-goods sector. Hence if there is a desire to increase consumption, the output of the capital goods should be maximized. Capital goods, often called complex products and systems (CoPS), play an important role in today's economy. Aside from allowing

25060-730: The production process. Since at least the 1960s economists have increasingly focused on broader forms of capital. For example, investment in skills and education can be viewed as building up human capital or knowledge capital , and investments in intellectual property can be viewed as building up intellectual capital . Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms. These terms lead to certain questions and controversies discussed in those articles. A capital good lifecycle typically consists of tendering, engineering and procurement, manufacturing, commissioning, maintenance, and (sometimes) decommissioning. Capital goods are

25239-635: The reach of Scots common law. From the reign of King James I a legal profession began to develop and the administration of criminal and civil justice was centralised. The growing activity of the parliament and the centralisation of administration in Scotland called for the better dissemination of Acts of the parliament to the courts and other enforcers of the law. In the late 15th century, unsuccessful attempts were made to form commissions of experts to codify, update or define Scots law. The general practice during this period, as evidenced from records of cases, seems to have been to defer to specific Scottish laws on

25418-482: The ruling elite as they gradually abandoned French. By the 15th century, it was the language of government, with acts of parliament, council records and treasurer's accounts almost all using it from the reign of James I onwards. As a result, Gaelic, once dominant north of the Tay, began a steady decline. Lowland writers began to treat Gaelic as a second-class, rustic and even amusing language, helping to frame attitudes towards

25597-467: The same amount of coastline at 4,000 miles (6,400 kilometres). Scotland has over 790 offshore islands, most of which are to be found in four main groups: Shetland , Orkney , and the Hebrides , subdivided into the Inner Hebrides and Outer Hebrides . Only a fifth of Scotland is less than 60 metres above sea level. The defining factor in the geography of Scotland is the distinction between

25776-540: The same year, matters were taken even further, when at a meeting of the General Assembly in Glasgow the Scottish bishops were formally expelled from the Church, which was then established on a full Presbyterian basis. Victory in the resulting Bishops' Wars secured the Presbyterian Kirk and precipitated the outbreak of the civil wars of the 1640s. Disagreements over collaboration with Royalism created

25955-399: The scheme as a "mercantilist venture designed to improve personal fortunes and Scotland’s balance of trade through colonisation and exploitation". Many former officers and soldiers, who had little hope of other employment, eagerly joined the Darien project. Many of them were acquainted from serving in the army and several – Thomas Drummond, for example – were notorious for their involvement in

26134-446: The scheme work. The company petitioned the king to affirm their right to the colony. However, he declined, saying that although he was sorry the company had incurred such huge losses, reclaiming Darien would mean war with Spain. The continuing futile debate on the issue served to further increase bitter feelings. An estimated 15-40% of all the actual capital in Scotland was invested in this project. Hoping to recoup some of its capital by

26313-527: The settlers had was in giant turtle hunting, but fewer and fewer men were fit enough for such strenuous work. The situation was exacerbated by the lack of food, mainly due to a high rate of spoilage caused by improper stowing. At the same time, King William instructed the Dutch and English colonies in America not to supply the Scots' settlement, so as not to incur the wrath of the Spanish Empire . The only reward

26492-617: The south-east, stretching into modern northern England. In 793, ferocious Viking raids began on monasteries such as those at Iona and Lindisfarne , creating fear and confusion across the kingdoms of north Britain. Orkney , Shetland and the Western Isles eventually fell to the Norsemen. These threats may have sped up a long-term process of Gaelicisation of the Pictish kingdoms, which adopted Gaelic language and customs. There

26671-458: The southwest. In 1603, James VI of Scotland became King of England , joining Scotland with England in a personal union . In 1707, during the reign of Queen Anne , the two kingdoms were united to form the Kingdom of Great Britain under the terms of the Acts of Union . The Crown was the most important element of Scotland's government. The Scottish monarchy in the Middle Ages was a largely itinerant institution, before Edinburgh developed as

26850-520: The stalemate of the Battle of Largs and the Treaty of Perth in 1266. The Isle of Man fell under English control, from Norwegian, in the 14th century, despite several attempts to seize it for Scotland. The English briefly occupied most of Scotland, under Edward I . Under Edward III , the English backed Edward Balliol , son of King John Balliol , in an attempt to gain his father's throne and restore

27029-509: The support of England. The chosen site is indeed only 80 km by beeline from the Pacific Ocean, although until today the terrain is unsuitable for transportation. Close to the fort, the settlers began erecting the huts of the main settlement, New Edinburgh (until 2011 known as Puerto Escocés ( Scottish Harbour ), now Puerto Inabaginya, in Guna Yala Province, Panama), and clearing land to plant yams and maize. Letters sent home by

27208-440: The supposed victims of the Worcester . The prosecution case, which was made in medieval Latin and legal Doric , was unintelligible to jury and accused alike. The defence advocates' objections were dismissed by court officials and they fled after the trial. Some jurors resisted bringing in a verdict of guilty, but the men were convicted and sentenced to death by hanging. The Queen advised her 30 privy councillors in Edinburgh that

27387-476: The theories of the sociologist and philosopher Pierre Bourdieu , scholars have recently argued for the significance of "culinary capital" in the arena of food. The idea is that the production, consumption, and distribution of knowledge about food can confer power and status. Within classical economics, Adam Smith ( Wealth of Nations , Book II, Chapter 1) distinguished fixed capital from circulating capital . The former designated physical assets not consumed in

27566-461: The thrones of England and Ireland, creating a Union of the Crowns that left the three states with their separate identities and institutions. He also moved the centre of royal patronage and power to London . When James' son Charles I attempted to impose elements of the English religious settlement on Scotland, the result was the Bishops' Wars (1637–1640), which ended in defeat for the king and

27745-552: The town 1440s on law, Greek, Latin and philosophy, under the patronage of Mary of Guise . These evolved into the "Tounis College", which would become the University of Edinburgh in 1582. The results were a revitalisation of all Scottish universities, which were now producing a quality of education the equal of that offered anywhere in Europe. Under the Commonwealth, the universities saw an improvement in their funding, as they were given income from deaneries, defunct bishoprics and

27924-467: The trade of capital goods receive little attention. Trade-in capital goods is a crucial part of the dynamic relationship between international trade and development. The production and trade of capital goods, as well as consumer goods, must be introduced to trade models, and the entire analysis integrated with domestic capital accumulation theory. Detailed classifications of capital that have been used in various theoretical or applied uses generally respect

28103-433: The training of clerics, but they were increasingly used by laymen who would begin to challenge the clerical monopoly of administrative posts in the government and law. Those wanting to study for second degrees still needed to go abroad. The continued movement to other universities produced a school of Scottish nominalists at Paris in the early 16th century, of which John Mair was probably the most important figure. By 1497,

28282-483: The use of a new liturgy. When the liturgy emerged in 1637 it was seen as an English-style Prayer Book, resulting in anger and widespread rioting. Representatives of various sections of Scottish society drew up the National Covenant on 28 February 1638, objecting to the King's liturgical innovations. The king's supporters were unable to suppress the rebellion and the king refused to compromise. In December of

28461-432: The virtues of Scots "poesie", after his accession to the English throne, he increasingly favoured the language of southern England. In 1611, the Kirk adopted the 1611 Authorized King James Version of the Bible. In 1617, interpreters were declared no longer necessary in the port of London because as Scots and Englishmen were now "not so far different bot ane understandeth ane uther". Jenny Wormald describes James as creating

28640-857: The ways in which the Pictish language in the north and Cumbric languages in the south were overlaid and replaced by Gaelic , Old English and later Norse in the Early Middle Ages . By the High Middle Ages , the majority of people within Scotland spoke the Gaelic language, then simply called Scottish , or in Latin , lingua Scotica . In the Northern Isles the Norse language brought by Scandinavian occupiers and settlers evolved into

28819-419: The west. This encouraged the spread of blanket bogs , the acidity of which, combined with high level of wind and salt spray, made most of the islands treeless. The existence of hills, mountains, quicksands and marshes made internal communication and conquest extremely difficult and may have contributed to the fragmented nature of political power. The Uplands and Highlands had a relatively short growing season, in

28998-409: Was a largely itinerant institution, Scone remained one of its most important locations, with royal castles at Stirling and Perth becoming significant in the later Middle Ages before Edinburgh developed as a capital city in the second half of the 15th century. The Crown remained the most important element of government, despite the many royal minorities . In the late Middle Ages, it saw much of

29177-488: Was a noble (6s. 8d.) of David II. Under James I pennies and halfpennies of billon (an alloy of silver with a base metal) were introduced, and copper farthings appeared under James III . In James V's reign the bawbee ( 1 + 1 ⁄ 2 d) and half-bawbee were issued, and in Mary, Queen of Scot's reign a twopence piece, the hardhead, was issued to help "the common people buy bread, drink, flesh, and fish". The billon coinage

29356-487: Was also a merger of the Gaelic (Scots) and Pictish kingdoms, although historians debate whether it was a Pictish takeover of Dál Riata, or vice-versa. This culminated in the rise of Cínaed mac Ailpín (Kenneth MacAlpin) as "king of the Picts" in the 840s (traditionally dated to 843), which brought to power the House of Alpin . When he died as king of the combined kingdom in 900, one of his successors, Domnall II (Donald II),

29535-539: Was also under pressure from the London-based East India Company (EIC), who were keen to maintain their monopoly over English foreign trade . It therefore forced the English and Dutch investors to withdraw. Next, the EIC threatened legal action on the grounds that the Scots had no authority from the king to raise funds outside the English realm, and obliged the promoters to refund subscriptions to

29714-486: Was closed in the Education Act 1646 , which established a solid institutional foundation for schools on Covenanter principles. Although the Restoration brought a reversion to the 1633 position, in 1696 new legislation restored the provisions of 1646. An act of the Scottish parliament in 1696 underlined the aim of having a school in every parish. In rural communities these obliged local landowners (heritors) to provide

29893-493: Was discontinued after 1603, but twopence pieces in copper continued to be issued until the Act of Union in 1707. Early Scottish coins were virtually identical in silver content to English ones, but from c.  1300 onwards their silver content began to depreciate more rapidly than their English counterparts. Between 1300 and 1605, Scottish coins lost silver value at an average of 12 percent every decade, three times higher than

30072-453: Was finally abandoned in March 1700 after a siege by Spanish forces, which also blockaded the harbour. As the Company of Scotland was backed by approximately 20 per cent of all the money circulating in Scotland, its failure left the entire Scottish Lowlands in financial ruin. This was an important factor in weakening their resistance to the Act of Union (completed in 1707). The land where

30251-529: Was instrumental in getting the company off the ground in London. He had failed to interest several European countries in his project but, in the aftermath of the English reaction to the company, he was able to get a hearing for his ideas. The Duke of Hamilton , a major supporter of the scheme, planned to import slaves "to be worked to death" at local gold mines in the region after a Scottish colony had been established in Panama. The Scots' original aim of emulating

30430-511: Was largely concentrated among a male and wealthy elite, with perhaps 60 per cent of the nobility being literate by the end of the period. Until the 15th century, those who wished to attend university had to travel to England or the continent, and just over a 1,000 have been identified as doing so between the 12th century and 1410. Among these the most important intellectual figure was John Duns Scotus , who studied at Oxford , Cambridge and Paris and probably died at Cologne in 1308, becoming

30609-604: Was lost at sea. Unable to afford the cost of fitting out yet another vessel, the company hired the Annandale in London to trade in the Spice Islands. However, the East India Company had the ship seized on the grounds that it was in contravention of their charter. That provoked an uproar in Scotland, greatly aided by the inflammatory rhetoric of the company's secretary, Roderick MacKenzie, a relentless enemy of

30788-415: Was never as central to the national life as its counterpart in England. In the early period, the kings of the Scots depended on the great lords of the mormaers (later earls ) and toísechs (later thanes ), but from the reign of David I, sheriffdoms were introduced, which allowed more direct control and gradually limited the power of the major lordships. In the 17th century, the creation of justices of

30967-555: Was restored and the bishops, who had generally supported James VII, abolished. However, William, who was more tolerant than the kirk tended to be, passed acts restoring the Episcopalian clergy excluded after the Revolution. The result was a Kirk divided between factions, with significant minorities, particularly in the west and north, of Episcopalians and Catholics. The establishment of Christianity brought Latin to Scotland as

31146-493: Was shared by the Protestant reformers, with a desire for a godly people replacing the aim of having educated citizens. In 1560, the First Book of Discipline set out a plan for a school in every parish, but this proved financially impossible. In the burghs the old schools were maintained, with the song schools and a number of new foundations becoming reformed grammar schools or ordinary parish schools. Schools were supported by

31325-495: Was supported by The Duke of Hamilton , the Hope of Bo'ness , and a smaller vessel, the Hope . The expedition had the blessing of the Church of Scotland who had appointed Alexander Shields as the senior of the four ministers (including Archibald Stobo and Francis Borland). The second expedition arrived in Caledonia Bay on 30 November 1699 and found Thomas Drummond's New York sloops already there. Some men were sent ashore to rebuild

31504-464: Was the first man to be called rí Alban (King of Alba ). The Latin term Scotia would increasingly be used to describe the heartland of these kings, north of the River Forth , and eventually the entire area controlled by its kings would be referred to, in English, as Scotland. The long reign (900–942/3) of Donald's successor Causantín (Constantine II) is often regarded as the key to formation of

31683-598: Was the last time it changed hands. The Auld Alliance with France led to the heavy defeat of a Scottish army at the Battle of Flodden Field in 1513 and the death of the King James IV . A long period of political instability followed. In the 16th century, under James V of Scotland and Mary, Queen of Scots , the Crown and court took on many of the attributes of the Renaissance and New Monarchy , despite long royal minorities , civil wars and interventions by

31862-509: Was the work of the Lutheran Scot Patrick Hamilton . His execution with other Protestant preachers in 1528, and of the Zwingli -influenced George Wishart in 1546, who was burnt at the stake in St Andrews , did nothing to stem the growth of these ideas. Wishart's supporters seized St Andrews Castle , which they held for a year before they were defeated with the help of French forces. The survivors, including chaplain John Knox , were condemned to be galley slaves , helping to create resentment of

32041-459: Was wounded in the daring frontal attack and then became incapacitated with a fever. The Spanish force – who were also suffering serious losses from fever – closed in on Fort St Andrew and besieged it for a month. Disease was still the main cause of death at this time. The Spanish commander Juan Pimienta called for the Scots to surrender and avoid a final assault, warning that if they did not, no quarter would be given. After negotiations,

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