Such was the important transaction on which Britain founds her possession of these Islands, or, as they were generally styled, THE COUNTRIES OF ORKNEY AND ZETLAND; and while some have found or fancied in its terms, unusual safeguards for the laws and liberties of the Islanders, others have distorted its plain meaning to impugn the right of redemption, or, with even less honesty, have feigned, forged, or uttered the forgery of a subsequent irredeemable Cession. But it was neither less nor more than an IMPIGNORATION, such as Denmark’s necessities had often forced her to make of States or dependencies which she could not mean to cede in permanency, such as Funen, Sleswig, and (more than once) the City and Castle of Copenhagen. A transaction so usual required no such extraordinary clauses or safeguards. In its very nature it implied only such a redeemable substitution of ownership as was consistent with the unchanged integrity of the pledge, so that when redeemed, it should return unaltered to its original owner. Even while creating a new and temporary right for Scotland, it did not extinguish the reversionary claims or present interest of Norway; for we find that power making valid grants of kirk-lands (1490–1500), its officer, the Lawman of Bergen, pronouncing valid decrees affecting Zetland (1485), and the Scottish Parliament expressly recognising the ancient native laws in the islands (1567) a century after the Impignoration. Most Scottish historians, from Ferrerius and Buchanan downwards, assert as a point of national honour the extinction of this Right of Redemption, either by renunciation or prescription; but the first plea is disproved by documentary evidence of two centuries of Danish demands and Scottish evasions; and so late as 1668 (two centuries after the date of the impignoration, and not two centuries from our own) the Plenipotentiaries of Europe assembled at Breda, attested that the Right of Redemption was unprescribed and imprescribable. Whether this Right be still vested in Denmark, or transferred to Sweden with the Norwegian Crown, are questions of the Law of Nations decided for the present by British preponderance of metal—until perhaps some power, recognised by the grace of Palmerston and Treaty of London as the future heir of Denmark, may revive the claim with arms as cogent as his pleas and his inducements. Every writer of Scottish history has recorded this Impignoration, Wadset or Mortgage, as the basis of Britain’s right to the Orkney and Zetland Islands, and some have narrated the attendant circumstances with more or less honesty of investigation; but few have interrupted the flow of their narrative to trace the political causes or social consequences of that revolution, and still fewer to define the several rights and interests of those affected by it as parties, subjects, governors, or governed.