Panama was part of the Spanish empire for nearly 300 years, from 1538 to 1821.

Religion played a very strong role in the spread of the Spanish empire.

At the same time, the Spanish empire was in a bad state both military and financially.

It had both similarities and difference with the Spanish empire.

Even before the war the state of the Spanish empire was precarious.

By then the Spanish empire could only afford a minimal effort.

Soon there was little left of the once great Spanish empire, and an attempt in 1873 to form a republic failed.

The story takes place during the 17th century in the Spanish Empire.

Both countries were part of the Spanish Empire until the early 19th century.

The convention stuck in financial markets, long after the sun had set on the Spanish empire.