Scottish economy was now facing a crisis, and the parliament was polarised into a pro-union and anti-union factions, with the former led by Daniel Defoe. The unionists stressed how important trade with England is to the Scottish economy, and portrayed trade with continental Europe as not beneficial, or nowhere as profitable as trading with England. They argued that the Scottish economy could survive by trading with England, and sanctions that would result from the Alien Act would collapse the economy. For Defoe, joining the union would not only prevent the Alien Act, but would also remove additional limitations and regulations, which could lead Scotland to prosperity. Anti-unionists questioned the English goodwill and criticised the unionist faction for submitting to the English blackmail. They argued that Scotland could make a recovery by trading with the Netherlands, Spain and Norway, with the diverse European markets allowing Scotland to diversify its own industries as well. They noted that the union would make Scotland unable to conduct independent trade policy, meaning that any possibility to remove the flaws in Scottish economy would be gone forever, which would turn Scotland into a "mere satellite of the richer kingdom". Ultimately, Scottish ministers voted in favour of the union, which was against the public opinion, as the Scottish population at the time was overwhelmingly against any union with England. Many considered themselves betrayed by their own elite, and Smout argues that the union bill was only able to pass thanks to the English bribery. 300th anniversary A commemorative two-pound coin was issued to mark the tercentennial—300th anniversary—of the Union, which occurred two days before the Scottish Parliament general election on 3 May 2007. The Scottish Government held a number of commemorative events through the year including an education project led by the Royal Commission on the Ancient and Historical Monuments of Scotland, an exhibition of Union-related objects and documents at the National Museums of Scotland and an exhibition of portraits of people associated with the Union at the National Galleries of Scotland. Scottish voting records See also Acts of Union 1800 (King of Great Britain with Kingdom of Ireland) Kingdom of Ireland English independence List of treaties MacCormick v Lord Advocate Parliament of the United Kingdom Political union Real union Scottish independence Unionism in Scotland Welsh independence Notes References Sources and further reading Campbell, R. H. "The Anglo-Scottish Union of 1707. II. The Economic Consequences". Economic History