Although the investors and shareholders had in effect lost everything by the start of 1699, the over-optimism and distances involved meant that money continued to be poured into an already pointless venture.
Burns contrasted their treachery to the country with the tradition of martial valour and resistance commonly associated with such historic figures as Robert the Bruce and William Wallace.
The poet states that he wished to have lain in the grave with Bruce or Wallace, rather than having seen this treacherous sale of Scotland were it in his own lifetime.
Steeleye Span later included it under the name "Rogues in a Nation" on their album, Parcel of Rogues, and it has been covered by numerous other musicians, including The Corries, Alastair McDonald, Jean Redpath, The Dubliners (Luke Kelly), Dick Gaughan, Makem and Clancy, Hamish Imlach, Old Blind Dogs, The Delgados, Jesse Ferguson—The Bard of Cornwall and Heelster Gowdie.
A spoken word version was recorded by Bill Drummond of The KLF as the closer of his solo album, The Man (1986).