Also from the late sixteenth century at the time of the Spanish conquest until the middle of the seventeenth century it constituted a trade route covering the Panama-Quito axis, and consolidated the most important contact between the ports of Pacific South America and Central America, but the splendor of this monopoly was dismantled in 1629 when, from the city of Los Reyes, the viceroys of Peru at the time, took decisions in favor of the Santiago de Guayaquil port and shipyard, their elite merchant having found themselves engaged in the enrichment and centrality of the Spanish crown that was to endure severe currency crisis, for which reason they even deliberately banned free enterprise at the Indian ports with European vessels other than Spanish.