For a half-century, the historiography on Spanish Habsburg rule suggested that the crown envisioned Indies society as best divided into two segregated sociolegal groups: the republic of the Spaniards and the republic of the Indians. This model was popularized by the eminent mid twentieth century Swedish historian Magnus Mörner and has since become a foundational concept in the field. However, using extensive archival evidence, this article suggests that the Mörner Thesis of the Two Republics is flawed. Historicizing sixteenth-century uses of the concept of the republic, it finds that contemporaries conceived of a complex social order in which many political communities such as municipalities and groups of petitioners could overlap within larger meta-republics, such as the Indies republic and the Christian faith-republic. It then turns to subjects’ uses of the two republics, noting that this conceptual duality appeared rarely in the petitions of Spanish officials, commoners, Indians, Afro-descendants, and mestizos, and was also rare in royal and viceregal legislation. Moreover, this binary most often served to suggest Spaniards’ and Indians’ common ground. The article then reflects on other approaches to understanding the Indies’ Spanish-Indian binary, the place of non-Spanish, non-Indian vassals within republic-thinking, and the staggering complexity of Indies laws, categories, and social interactions.