One of the main reasons for Spanish conquest was the rumors of gold and other riches in South America

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, particularly in the areas of present-day Mexico and Peru. The Spanish conquistadors, driven by greed and a desire for wealth and power, saw the New World as an opportunity to acquire vast amounts of riches. They were also motivated by a desire to spread Catholicism and convert the indigenous populations to Christianity.

The conquest of the Aztec Empire in Mexico and the Inca Empire in Peru in the early 16th century brought immense wealth to Spain, as the conquistadors plundered the empires' treasures of gold, silver, and other valuable resources. The Spanish also established encomiendas, a system of forced labor, to exploit the indigenous population for their labor and resources.

The Spanish conquest of South America was brutal and devastating for the indigenous populations, leading to the decimation of entire civilizations through warfare, disease, and exploitation. Despite the human cost, the Spanish conquest of South America led to the establishment of a vast colonial empire that brought immense wealth and power to Spain.