Spain's colonization of Latin America (1492–1820s) was driven by a convergence of motives:
Gold, silver, mercury (Potosí, Zacatecas) financed the Spanish Empire—funding wars, the Armada, and European hegemony. The quinto real (20% royal tax) on precious metals filled Crown coffers.
As Catholic Monarchs, Ferdinand and Isabella mandated evangelization. Franciscans, Dominicans, Jesuits built missions, converted millions, and created a syncretic Catholic-indigenous culture. The Requerimiento justified conquest as saving souls.
Claiming vast lands (Tierra Firme, Nueva España, Perú, Río de la Plata) denied them to rivals (Portugal, England, France, Netherlands). The Treaty of Tordesillas (1494) split the world with Portugal.
Caribbean ports (Havana, Cartagena, Veracruz, Portobelo) controlled the Spanish treasure fleets and trans-Pacific Manila Galleon trade (silk, porcelain, spices for American silver).
Encomienda grants incentivized Cortés, Pizarro, Alvarado, Valdivia to conquer at personal risk for titles, land, and native labor. Social mobility for younger sons (hidalgos).
Portugal (Brazil, Africa), England (Caribbean, North America), France (Canada, Mississippi), Netherlands (Caribbean, Brazil) forced Spain to occupy and fortify continuously.
The Columbian Exchange transformed both worlds: crops (maize, potato, tomato → Europe; wheat, sugar, citrus → Americas), animals (horse, cattle, pig), diseases (smallpox, measles → demographic catastrophe), language (Spanish), religion, law, and mestizo identity.
Spain colonized for wealth (gold/silver), souls (Catholicism), power (territory/trade routes), and personal glory. The legacy is a Hispanic civilization of 400+ million people, built on the catastrophic demographic collapse of Indigenous peoples and African slavery.