Page:History of England (Macaulay) Vol 5.djvu/433

 abroad? Undoubtedly the vast colonial empire and the narrow colonial policy of Spain were regarded with an evil eye by more than one great maritime power. But there was no great maritime power which would not far rather have seen the isthmus between the Atlantic and the Pacific in the hands of Spain than in the hands of the Darien Company. Lewis could not but dread whatever tended to aggrandise a state governed by William. To Holland the East India trade was as the apple of her eye. She had been the chief gainer by the discoveries of Gama; and it might be expected that she would do all that could be done by craft, and, if need were, by violence, rather than suffer any rival to be to her what she had been to Venice. England remained; and Paterson was sanguine enough to flatter himself that England might be induced to lend her powerful aid to the Company. He and Lord Belhaven repaired to London, opened an office in Clement's Lane, formed a Board of Directors auxiliary to the Central Board at Edinburgh, and invited the capitalists of the Royal Exchange to subscribe for the stock which had not been reserved for Scotchmen resident in Scotland. A few moneyed men were allured by the bait; but the clamour of the City was loud and menacing; and from the City a feeling of indignation spread fast through the country. In this feeling there was undoubtedly a large mixture of evil. National antipathy operated on some minds, religious antipathy on others. But it is impossible to deny that the anger which Paterson's schemes excited throughout the south of the island was, in the main, just and reasonable. Though it was not yet generally known in what precise spot his colony was to be planted, there could be little doubt that he intended to occupy some part of America; and there could be as little doubt that such occupation would be resisted. There would be a maritime war; and such a war Scotland had no means of carrying on. The state of her finances was such that she must be quite unable to fit out even a single squadron of moderate size. Before the conflict had lasted three months, she would have neither money nor credit left. These things were obvious to every coffeehouse politician; and it was impossible to believe