After The Fall of Tenochtitlán in 1521, the focus of Spanish attention was quickly shifted to the peripheral areas of New Spain. One of such areas, variously known in colonial times as Panuco, the Huasteca, or Vitoria Garayana, was conquered by Cortés in late 1522 or early 1523. In the spring of 1523 the Conqueror founded the villa of Santisteban del Puerto on the Panuco River; granted encomiendas to some one hundred Spaniards; and returned to Mexico City. Despite an early challenge by Francisco de Garay, the governor of Jamaica, Pánuco was administered by Cortés or the royal treasury officials of New Spain until May, 1527. At this time the crown appointee, Nuño Beltrán de Guzmán, arrived in the province with the title of Governor of Panuco which he held until the last months of 1533. In the pages that follow, an attempt will be made to present evidence relating to a decade of slaving in Panuco. This will involve the activities of both Cortés and Guzmán, as well as some traditional accounts relating to the topic. The author wishes to state at the outset that he is neither defending nor prosecuting the moral issue of Indian slavery.