Glencoe, and the failure of the
scheme for colonizing the Isthmus of Darien. The story of Glencoe has
been often told. The 31st December, 1691, had been appointed as the
latest day on which the government would receive the submission of the
Highland chiefs. MacDonald of Glencoe delayed till the last moment, and
then proceeded to Fort-William, where a fortress had just been erected,
to take the oath in the presence of its commander, who had no power to
receive it. From Fort-William he had to go to Inverary, to take the oath
before the sheriff of Argyll, and he did so on the 6th January, 1692.
The six days' delay placed him and his clan in the power of men who were
unlikely to show any mercy to the name of MacDonald. Acting under
instructions from King William, the nature of which has been matter of
dispute, Campbell of Glenlyon, acting with the knowledge of Breadalbane
and Sir John Dalrymple of Stair, the Secretary of State, and as their
tool, entered the pass of Glencoe on the 1st February, 1692. The
MacDonalds, trusting in the assurances which had been given by the
Government, seem to have suspected no evil from this armed visit of
their traditional enemies, the Campbells, and received them with
hospitality. While they were living peaceably, all possible retreat was
being cut off from the unfortunate MacDonalds by the closing of the
passes, and on the 13th effect was given to the dastardly scheme. It
failed, however, to achieve its full object--the extirpation of the
clan. Many escaped to the hills; but the chief himself and over thirty
others were murdered in cold blood. The news of the massacre roused a
fierce flame of indignation, not only in the Highlands, but throughout
the Lowlands as well, and the Jacobites did not fail to make use of it.
A commission was appointed to enquire into the circumstances, and it
severely censured Dalrymple, and charged Breadalbane with treason, while
many blamed, possibly unjustly, the king himself.

The other grievance was of a different nature. About 1695, William
Paterson, the founder of the Bank of England, suggested the formation of
a Scottish company to trade to Africa and the Indies. It was originally
known as the African Company, but it was destined to be popularly
remembered by the name of its most notable failure--the Darien Company.
It received very full powers from the Scottish Parliament, powers of
military colonization as well as trading privileges. These powers
aroused