Company of Scotland Trading to Africa and the Indies received a charter to raise capital through public subscription. The Company invested in the Darién scheme, an ambitious plan funded almost entirely by Scottish investors to build a colony on the Isthmus of Panama for trade with East Asia. The scheme was a disaster; the losses of over £150,000 severely impacted the Scottish commercial system. Political motivations The Acts of Union may be seen within a wider European context of increasing state centralisation during the late 17th and early 18th centuries, including the monarchies of France, Sweden, Denmark and Spain. While there were exceptions, such as the Dutch Republic or the Republic of Venice, the trend was clear. The dangers of the monarch using one Parliament against the other first became apparent in 1647 and 1651. It resurfaced during the 1679 to 1681 Exclusion Crisis, caused by English resistance to the Catholic James II (of England, VII of Scotland) succeeding his brother Charles. James was sent to Edinburgh in 1681 as Lord High Commissioner; in August, the Scottish Parliament passed the Succession Act, confirming the divine right of kings, the rights of the natural heir "regardless of religion", the duty of all to swear allegiance to that king, and the independence of the Scottish Crown. It then went beyond ensuring James's succession to the Scottish throne by explicitly stating the aim was to make his exclusion from the English throne impossible without "the fatall and dreadfull consequences of a civil war". The issue reappeared during the 1688 Glorious Revolution. The English Parliament generally supported replacing James with his Protestant daughter Mary, but resisted making her Dutch husband William of Orange joint ruler. They gave way only when he threatened to return to the Netherlands, and Mary refused to rule without him. In Scotland, conflict over control of the kirk between Presbyterians and Episcopalians and William's position as a fellow Calvinist put him in a much stronger position. He originally insisted on retaining Episcopacy, and the Committee of the Articles, an unelected body that controlled what legislation Parliament could debate. Both would have given the Crown far greater control than in England but he withdrew his demands due to the 1689–1692 Jacobite Rising. English perspective The English succession was provided for by the English Act of Settlement 1701, which ensured that the monarch of England would be a Protestant member of the