WILLIAM PATERSON AND THE DARIEN COMPANY.
A History of Wil/iam Paterson and the Darien Company. By James Samuel Barbour, formerly Accountant of the Bank of Scotland. With Illustrations and Appendices. (W. Blackwood and Sons. 6s. net.)—Mr. Barbour gives an interesting account of the forma- tion of the ill-starred Darien Company, and the two expeditions which it despatched. He clearly shows that the failure of the company was in no way due to Paterson, who if he had had his own way throughout would probably have effected a brilliant success. But bad luck dogged the footsteps of the company from the start. The loss of a considerable sum of the company's money through the villainy of a subordinate in whom he had placed trust caused Paterson to be dismissed at an early stage by the directors from having a responsible position in their service. The jealousy in England, fomented by the rival English East India Trading Company, caused an order to be issued by the English Govern- ment compelling the withdrawal of all the English capital which had been subscribed. The Governor of Jamaica likewise received orders to prevent any assistance being given to the colony at Darien. The poor spirit and petty jealousies of the leaders of the expeditions were also largely accountable for their failure. Throughout Paterson appears as the good genius of the company, and the failure was proportionate to the small influence lie was allowed in the council of the colonisers. One chapter deals with the issue of bank-notes by the Darien Company, a self-imposed addition to its objects which it clearly had no right to undertake and which rapidly . proved, unsuccessful. If the scheme for colonising Darien was a complete failure, it nevertheless had good consequences in its train, for it _made obvious to all the miserable results of the jealousies and rivalry between England and Scotland, and helped to pave the way.for the Union. William Paterson spent most of his time after.ldie failure of the Darien scheme in working for this great object, and lived to see it successfully achieved. Founder of the. Bank of England, pro- jector Of the great Darien scheme, whieli failed through no fault of his own—a roan, moreover, of great integrity, and financial insight far in advance of his times—" is it," asks Mr. Barbour, "too much' to express the hope that Paterson's memory will be kept fresh and green 'as long as rivers run and gold is found in Darien'?"
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