This episode covers how Spain’s defense of its American colonies relied heavily on armed convoys, the Treasure Fleet system, and taxes on merchants, but limited funding and scattered settlements meant pirates and privateers often succeeded in raiding ships and towns. Over time, fortifications, naval patrols, and organized fleets were gradually implemented, yet Spain’s power declined due to competition from the Dutch, English, and French, as well as decreasing silver production. By the late 18th century, Spain attempted reforms, including freer trade and privatized galleon management, but the Treasure Fleet system ultimately ended, marking the decline of Spanish control over its colonial wealth.