Panama – Wikipedia, the free encyclopediaSpanish authorities exercised little control over much of the territory of Panama, large sections managing to resist conquest until very late in the colonial era. Because of this, indigenous people of the area were often referred to as “indios de guerra” (war Indians), and resisted Spanish attempts to conquer them or missionize them. However, Panama was enormously important to Spain strategically because it was the easiest way to transship silver mined in Peru to Europe. Silver cargos were landed at Panama, and then taken overland to Portobello or Nombre de Dios on the Caribbean side of the isthmus for further shipment.