Events for November 04



November 4, 1698
Foundation of Scotlands only New World colony New Caledonia at Darien Imus of Panama
In the late 17th Century, a business idea was hatched by William Paterson to create a Scottish Colony in the New World. William Paterson, a Scot whos other major claim to fame was the foundation of the Bank of England, was born in Tinwald in Dumfriesshire in 1658. He made his first fortune through international trade, travelling extensively throughout the Americas and West Indies.
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