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Updated: May 12, 2025
But, on the whole, this colonizing scheme of the Welzers proved a dreary failure; they had little interest in the permanent occupation of the country, and sought merely for the gold and precious metals.
Thus, with the knowledge that their occupation would be shortlived, they forced the Indians to ever more strenuous labours than those to which they were accustomed even at the hands of the Spaniards. In the end the country became depopulated. The Welzers shrugged their shoulders, and admitted that their utility was at an end in that district.
The failure of Indian labour meant financial ruin; this was frequently staved off at the cost of thousands and tens of thousands of lives. Such characteristics as these were by no means confined to the Spaniards and Portuguese. We have some terribly vivid examples of it on the part of the Welzers, the German merchant princes who contracted with Charles V. to subdue and settle Venezuela.
Charles V. found himself in some danger of running short of men in the face of these tremendous additions to his empire. He farmed out a portion of these new Colonies, contracting with the Welzers, merchant princes of Augsberg, in Germany, to take charge of and to extend the settlements in that part of the continent which is now known as Venezuela.
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