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Down they poured upon Panama, and out came the Spaniards to meet them; four hundred horse, two thousand five hundred foot, and two thousand wild bulls which had been herded together to be driven over the buccaneers so that their ranks might be disordered and broken. The buccaneers were only eight hundred strong; the others had either fallen in battle or had dropped along the dreary pathway through the wilderness; but in the space of two hours the Spaniards were flying madly over the plain, minus six hundred who lay dead or dying behind them.

As for the bulls, as many of them as were shot served as food there and then for the half-famished pirates, for the buccaneers were never more at home than in the slaughter of cattle.

Then they marched toward the city. Three hours’ more fighting and they were in the streets, howling, yelling, plundering, gorging, dram-drinking, and giving full vent to all the vile and nameless lusts that burned in their hearts like a hell of fire. And now followed the usual sequence of events–rapine, cruelty, and extortion; only this time there was no town to ransom, for Morgan had given orders that it should be destroyed. The torch was set to it, and Panama, one of the greatest cities in the New World, was swept from the face of the earth. Why the deed was done, no man but Morgan could tell. Perhaps it was that all the secret hiding places for treasure might be brought to light; but whatever the reason was, it lay hidden in the breast of the great buccaneer himself. For three weeks Morgan and his men abode in this dreadful place; and they marched away with one hundred and seventy-five beasts of burden loaded with treasures of gold and silver and jewels, besides great quantities of merchandise, and six hundred prisoners held for ransom.

Whatever became of all that vast wealth, and what it amounted to, no man but Morgan ever knew, for when a division was made it was found that there was only two hundred pieces of eight to each man.

When this dividend was declared, a howl of execration went up, under which even Capt. Henry Morgan quailed. At night he and four other commanders slipped their cables and ran out to sea, and it was said that these divided the greater part of the booty among themselves. But the wealth plundered at Panama could hardly have fallen short of a million and a half of dollars. Computing it at this reasonable figure, the various prizes won by Henry Morgan in the West Indies would stand as follows: Panama, $1,500,000; Porto Bello, $800,000; Puerto del Principe, $700,000; Maracaibo and Gibraltar, $400,000; various piracies, $250,000–making a grand total of $3,650,000 as the vast harvest of plunder. With this fabulous wealth, wrenched from the Spaniards by means of the rack and the cord, and pilfered from his companions by the meanest of thieving, Capt. Henry Morgan retired from business, honored of all, rendered famous by his deeds, knighted by the good King Charles II, and finally appointed governor of the rich island of Jamaica.

Other buccaneers followed him. Campeche was taken and sacked, and even Cartagena itself fell; but with Henry Morgan culminated the glory of the buccaneers, and from that time they declined in power and wealth and wickedness until they were finally swept away.

The buccaneers became bolder and bolder. In fact, so daring were their crimes that the home governments, stirred at last by these outrageous barbarities, seriously undertook the suppression of the freebooters, lopping and trimming the main trunk until its members were scattered hither and thither, and it was thought that the organization was exterminated. But, so far from being exterminated, the individual members were merely scattered north, south, east, and west, each forming a nucleus around which gathered and clustered the very worst of the offscouring of humanity.