Not only did the search for El Dorado cost millions of lives—both Indian and Spanish—it helped bring the ruin of the Spanish empire. Gold became Spain’s obsession. The gold that did find its way back to Spain-and a lot did—was reinvested in more expeditions, or in the purchase of luxuries, rather than in agriculture or any other productive endeavor. Whole Spanish towns were depopulated as their menfolk left to hunt gold. Farms fell into ruin, and the army had no recruits for its European wars. By the end of the seventeenth century, the entire country had shrunk by more than half of its
...more
