of reconciliation, the general thought the present a favorable opportunity to remove his brother from the scene of operations, where his factious spirit more than counterbalanced his eminent services.3

The business of melting down the plate was intrusted to the Indian goldsmiths, who were thus required to undo the work of their own hands. They toiled day and night, but such was the quantity to be recast that it consumed a full month. When the whole was reduced to bars of a uniform standard, they were nicely weighed, under the superintendence of the royal in spectors. The total amount of the gold was found to be one million three hundred and twenty-six thousand five hundred and thirty-nine pesos de oro, which, allowing for the greater value of money in the sixteenth century, would be equivalent, probably, at the present time, to near three millions and a half of pounds sterling, or somewhat less than fifteen millions and a half of dollars. The quantity of silver was estimated

3 According to Oviedo, it was agreed that Hernando should have a share much larger than he was entitled to of the Inca's ransom, in the hope that he would feel so rich as never to desire to return again to Peru: "Trabajaron de le embiar rico por quitarle de entre ellos, y porque yendo muy rico como fue no tubiese voluntad de tornar á aquellas partes." Hist. de las Indias, MS., Parte 3, lib. 8, cap. 16.

4 Acta de Reparticion del Rescate de Atahuallpa, MS.-Xerez, Conq. del Peru, ap. Barcia, tom. iii. p. 232.—In reducing the sums mentioned in this work, I have availed myself as I before did, in the History of the Conquest of Mexico-of the labors of Señor Clemencin, formerly Secretary of the Royal Academy of History at Madrid. This eminent scholar, in the sixth volume of the Memoirs of the Academy, prepared wholly by himself, has introduced an elaborate essay on the value of the currency in the reign of Ferdinand and Isabella. Although this period-the close of the fifteenth centurywas somewhat earlier than that of the Conquest of Peru, yet his cal

at fifty-one thousand six hundred and ten marks. History affords no parallel of such a booty-and that, too, culations are sufficiently near the truth for our purpose, since the Spanish currency had not as yet been much affected by that disturbing cause, the influx of the precious metals from the New World. In inquiries into the currency of a remote age, we may consider, in the first place, the specific value of the coin,-that is, the value which it derives from the weight, purity, etc., of the metal, circumstances easily determined. In the second place, we may inquire into the commercial or comparative worth of the money,—that is, the value founded on a comparison of the difference between the amount of commodities which the same sum would purchase formerly and at the present time. The latter inquiry is attended with great embarrassment, from the difficulty of finding any one article which may be taken as the true standard of value. Wheat, from its general cultivation and use, has usually been selected by political economists as this standard; and Clemencin has adopted it in his calculations. Assuming wheat as the standard, he has endeavored to ascertain the value of the principal coins in circulation at the time of the "Catholic Kings." He makes no mention in his treatise of the peso de oro, by which denomination the sums in the early part of the sixteenth century were more frequently expressed than by any other. But he ascertains both the specific and the commercial value of the castellano, which several of the old writers, as Oviedo, Herrera, and Xerez, concur in stating as precisely equivalent to the peso de oro. From the results of his calculations, it appears that the specific value of the castellano, as stated by him in reals, is equal to three dollars and seven cents of ou. own currency, while the commercial value is nearly four times as great, or eleven dollars sixty-seven cents, equal to two pounds twelve shillings and sixpence sterling. By adopting this as the approximate value of the peso de oro in the early part of the sixteenth century, the reader may easily compute for himself the value, at that period, of the sums mentioned in these pages; most of which are expressed in that denomination. I have been the more particular in this statement since In my former work I confined myself to the commercial value of the money, which, being much greater than the specific value, founded on the quality and weight of the metal, was thought by an ingenious correspondent to give the reader an exaggerated estimate of the sums mentioned in the history. But it seems to me that it is only this com

in the most convertible form, in ready money, as it were having fallen to the lot of a little band of military adventurers, like the Conquerors of Peru. The great object of the Spanish expeditions in the New World was gold. It is remarkable that their success should have been so complete. Had they taken the track of the English, the French, or the Dutch, on the shores of the northern continent, how different would have been the result! It is equally worthy of remark that the wealth thus suddenly acquired, by diverting them from the slow but surer and more permanent sources of national prosperity, has in the end glided from their grasp and left them among the poorest of the nations of Christendom.

A new difficulty now arose in respect to the division of the treasure. Almagro's followers claimed to be admitted to a share of it; which, as they equalled and, indeed, somewhat exceeded in number Pizarro's company, would reduce the gains of these last very materially. "We were not here, it is true," said Almagro's soldiers to their comrades, "at the seizure of the Inca, but we have taken our turn in mounting guard over him since his capture, have helped you to defend your treasures, and now give you the means of going forward and securing your conquests. It is a common cause," they urged, "in which all are equally

parative or commercial value with which the reader has any concern, indicating what amount of commodities any given sum represents, that he may thus know the real worth of that sum,-thus adopting the principle, though conversely stated, of the old Hudibrastic maxim.→

"What is worth in any thing,

But so much money as 't will bring?"

embarked, and the gains should be shared equally between us."

But this way of viewing the matter was not at all palatable to Pizarro's company, who alleged that Atahuallpa's contract had been made exclusively with them; that they had seized the Inca, had secured the ransom, had incurred, in short, all the risk of the enterprise, and were not now disposed to share the fruits of it with every one who came after them. There was much force, it could not be denied, in this reasoning, and it was finally settled between the leaders that Almagro's followers should resign their pretensions for a stipulated sum of no great amount, and look to the career now opened to them for carving out their fortunes for themselves.

This delicate affair being thus harmoniously adjusted, Pizarro prepared, with all solemnity, for a division of the imperial spoil. The troops were called together in the great square, and the Spanish commander, "with the fear of God before his eyes," says the record, "invoked the assistance of Heaven to do the work before him conscientiously and justly." The appeal may seem somewhat out of place at the distribution of spoil so unrighteously acquired; yet in truth, considering the magnitude of the treasure, and the power assumed by Pizarro to distribute it according to the respective deserts of the individuals, there were few acts of his life involving a heavier responsibility. On

5 "Segun Dios Nuestro Señor se diere á entender teniendo su conciencia y para lo mejor hazer pedia al ayuda de Dios Nuestro Señor, é imboco el auxilio divino." Acta de Reparticion del Rescate, MS.

his present decision might be said to hang the future fortunes of each one of his followers, -poverty or independence during the remainder of his days.

The royal fifth was first deducted, including the remittance already sent to Spain. The share appropriated by Pizarro amounted to fifty-seven thousand two hundred and twenty-two pesos of gold, and two thousand three hundred and fifty marks of silver. He had besides this the great chair or throne of the Inca, of solid gold, and valued at twenty-five thousand pesos de oro. To his brother Hernando were paid thirty-one thousand and eighty pesos of gold, and two thousand three hundred and fifty marks of silver. De Soto received seventeen thousand seven hundred and forty pesos of gold, and seven hundred and twenty-four marks of silver. Most of the remaining cavalry, sixty in number, received each eight thousand eight hundred and eighty pesos of gold, and three hundred and sixtytwo marks of silver, though some had more, and a few considerably less. The infantry mustered in all one hundred and five men. Almost one-fifth of them were allowed, each, four thousand four hundred and forty pesos of gold, and one hundred and eighty marks of silver, half of the compensation of the troopers. The remainder received one-fourth part less; though here again there were exceptions, and some were obliged to content themselves with a much smaller share of the spoil.

"The particulars of the distribution are given in the Acta de Reparticion del Rescate, an instrument drawn up and signed by the royal notary. The document, which is therefore of unquestionable authority, is among the MSS. selected for me from the collection of Muñoz. Peru.-VOL. I.—U

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