Approximately two miles from the Panama City center are found the archeological compound of the first city of Panama known as “Panama La Vieja” or Old Panama, founded in 1519 by Pedrarias Davila. Fragments of walls and arches stand in an open park, recalling the splendor of the Spaniard’s first settlement on the Pacific Ocean. From here, expeditions were mounted to conquer the Inca Empire of South America. All of the wealth from Peru and Chile flowed to Spain through Old Panama. Not surprisingly, the enormous quantities of gold attracted pirates like sharks to Panama’s water. When Henry Morgan looted the city in 1671, Panama’s governor ordered the powder magazine burned, and the whole city went up in flames. the capital was moved two miles to the west, and present-day Panama city was founded in 1673. The most impressive structures remaining are the cathedral, that you can climb and have an amazing view of the City and market. This is one of the spots not to missed if you visit our City.