The letters were drawn; the Great Seal was affixed; the subscription books were opened; the shares were fixed at a hundred pounds sterling each; and from the Pentland Firth to the Solway Firth every man who had a hundred pounds was impatient to put down his name. About two hundred and twenty thousand pounds were actually paid up. This may not, at first sight, appear a large sum to those who remember the bubbles of 1825 and of 1845, and would assuredly not have sufficed to defray the charge of three months of war with Spain. Yet the effort was marvellous when it may be affirmed with confidence that the Scotch people voluntarily contributed for the colonisation of Darien a larger proportion of their substance than any other people ever, in the same space of time, voluntarily contributed to any commercial undertaking. A great part of Scotland was then as poor and rude as Iceland now is. There were five or six shires which did not altogether contain so many guineas and crowns as were tossed about every day by the shovels of a single goldsmith in Lombard Street. Even the nobles had very little ready money. They generally took a large part of their rents in kind, and were thus able, on their own domains, to live plentifully and hospitably.
But there were many esquires in Kent and Somersetshire who received from their tenants a greater quantity of gold and silver than a Duke of Cordon or a Marquess of Atholl drew from extensive provinces. The pecuniary remuneration of the clergy was such as would have moved the pity of the most needy curate who thought it a privilege to drink his ale and smoke his pipe in the kitchen of an English manor house. Even in the fertile Merse there were parishes of which the minister received only from four to eight pounds sterling in cash. The official income of the Lord President of the Court of Session was only five hundred a year;that of the Lord Justice Clerk only four hundred a year. The land tax of the whole kingdom was fixed some years later by the Treaty of Union at little more than half the land tax of the single county of Norfolk. Four hundred thousand pounds probably bore as great a ratio to the wealth of Scotland then as forty millions would bear now.
The list of the members of the Darien Company deserves to be examined. The number of shareholders was about fourteen hundred.
The largest quantity of stock registered in one name was three thousand pounds. The heads of three noble houses took three thousand pounds each, the Duke of Hamilton, the Duke of Queensbury and Lord Belhaven, a man of ability, spirit and patriotism, who had entered into the design with enthusiasm not inferior to that of Fletcher. Argyle held fifteen hundred pounds.
John Dalrymple, but too well known as the Master of Stair, had just succeeded to his father's title and estate, and was now Viscount Stair. He put down his name for a thousand pounds. The number of Scotch peers who subscribed was between thirty and forty. The City of Edinburgh, in its corporate capacity, took three thousand pounds, the City of Glasgow three thousand, the City of Perth two thousand. But the great majority of the subscribers contributed only one hundred or two hundred pounds each. A very few divines who were settled in the capital or in other large towns were able to purchase shares. It is melancholy to see in the roll the name of more than one professional man whose paternal anxiety led him to lay out probably all his hardly earned savings in purchasing a hundred pound share for each of his children. If, indeed, Paterson's predictions had been verified, such a share would, according to the notions of that age and country, have been a handsome portion for the daughter of a writer or a surgeon.
