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The two penniless, middle-aged soldiers of fortune determined to undertake the conquest of that distant empire–a stupendous resolution. Being almost without means, they were forced to enlarge the company by taking on a third partner, a priest named Luque, who had, or could command, the necessary funds. With the sanction of Pedrarias, who demanded and received a share, largely gratuitous, in the expedition, they bought two of the four vessels which Balboa had caused to be taken to pieces, transported them across the Isthmus, then set them up again, and relaunched in the Pacific. Enlisting one hundred men under his banner, Pizarro set sail with the first vessel on the 14th of November, 1524. Almagro was to follow after with reenforcements and supplies in the second ship. One Andagoya had made a short excursion southward some time before, but they soon passed his latitude and were the first white men to cleave those southern seas.

With only their hopes to guide them, without pilot, chart or experience, being, I suspect, indifferent sailors and wretched navigators, they crept along the forbidding shore in a crazy little ship, landing from time to time, seeing no evidence of the empire, being indeed unable to penetrate the jungles far enough to find out much of anything about the countries they passed. Finally, at one place, that they afterwards called “Starvation Harbor,” the men rebelled and demanded to be led back. They had seen and heard little of importance. There seemed to be nothing before them but death by starvation.

Pizarro, however, who has been aptly described as “terribly persistent,” refused to return. He sent the ship back to the Isles of Pearls for provisions, and grimly clung to the camp on the desolate shore. When twenty of his men were dead of starvation, the ship came back with supplies. In one of their excursions, during this wait at Starvation Harbor, they had stumbled upon and surprised an Indian village in which they found some clumsy gold ornaments, with further tales of the El Dorado to the southward. Instead of yielding to the request of his men that they immediately return in the ship, therefore, the indomitable Spaniard made sail southward. He landed at various places, getting everywhere little food and less gold, but everywhere gaining more and more confirmation that the foundation of his dreams was not “the baseless fabric of a vision.”

In one place they had a fierce battle with the Indians in which two of the Spaniards were killed and a large number wounded. Pizarro now determined to return to Panama with the little gold he had picked up and the large stories he had heard, there to recruit his band and to start out again. Almagro meanwhile had set forth with his ship with sixty or seventy additional adventurers. He easily followed the traces of Pizarro on the shore but the ships did not meet. Almagro went farther south than Pizarro. At one landing-place he had a furious battle with the natives in which he lost an eye. He turned back after reaching the mouth of the river San Juan in about the fourth parallel of north latitude. He, too, had picked up some little treasure and a vast quantity of rumor to compensate for his lost optic and bitter experience. But the partners had little to show for their sufferings and expenditures but rumors and hopes.

Pedrarias in disgust withdrew from the expedition for a price, which, with the money necessary to send out a second expedition, was furnished through Luque by the Licentiate Espinosa. About September, 1526, with two ships, the two captains set forth once more. This time they had with them a capable pilot named Ruiz. They avoided the coast and steered direct for the mouth of the San Juan River. Pizarro surprised a village here, carried off some of the natives, and a considerable amount of gold. This Almagro, as the best “persuader,” took back to Panama in the hope that by exhibiting it he could gain much needed reenforcements for their expedition.