Economic History of Scotland - 18th Century

18th Century

By the start of the 18th century, a political union between Scotland and England became politically and economically attractive, promising to open up the much larger markets of England, as well as those of the growing British Empire. The Scottish parliament voted on 6 January 1707, by 110 to 69 to adopt the Treaty of Union. It was a full economic union; indeed, most of its 25 articles dealt with economic arrangements for the new state known as "Great Britain." It added 45 Scots to the 513 members of the House of Commons and 16 Scots to the 190 members of the House of Lords, and ended the Scottish parliament. It also replaced the Scottish systems of currency, taxation and laws regulating trade with laws made in London. England had about five times the population of Scotland at the time, and about 36 times as much wealth.

Read more about this topic:  Economic History Of Scotland

Famous quotes containing the word century:

    Lizzie Borden took an axe
    And gave her mother forty whacks;
    When she saw what she had done,
    She gave her father forty-one.
    —Anonymous. Late 19th century ballad.

    The quatrain refers to the famous case of Lizzie Borden, tried for the murder of her father and stepmother on Aug. 4, 1892, in Fall River, Massachusetts. Though she was found innocent, there were many who contested the verdict, occasioning a prodigious output of articles and books, including, most recently, Frank Spiering’s Lizzie (1985)