Pizarro, on his part, was bound, in six months from the date of the instrument, to raise a force, well equipped for the service, of two hundred and fifty men, of whom one hundred might be drawn from the colonies; and the government engaged to furnish some trifling assistance in the purchase of artillery and military stores. Finally, he was to be prepared, in six months after his return to Panama, to leave that port and embark on his expedition.2Such are some of the principal provisions of this Capitulation, by which the Castilian government, with the sagacious policy which it usually pursued on the like occasions, stimulated the ambitious hopes of the adventurer by high-sounding titles, and liberal promises of reward contingent on his success, but took care to stake nothing itself on the issue of the enterprise. It was careful to reap the fruits of his toil, but not to pay the cost of them.

A circumstance, that could not fail to be remarked in these provisions, was the manner in which the high and lucrative posts were accumulated on Pizarro, to the exclusion of Almagro, who, if he had not taken as conspicuous a part in personal toil and exposure, had, at least, divided with him the original burden of the enterprise, and, by his labors in another direction, had contributed quite as essentially to its success.