Then two persons in the streets formed a crowd and half a dozen a mob. Solitude and silence reigned, where so lately the bustle and noise had been rampant, and the _tiempo muerto_ ruled until the following year. It can be easily understood that the influence of the Porto Bello fair was not only felt on the Gulf side, but on the shores of the Pacific as well. Panama was largely dependent on the transport business, which employed a great number of mules and slaves. Even in the absence of buccaneers and pirates the road was always difficult, and sometimes even dangerous. Heavy rains caused great floods, which delayed the traffic for days, and left the tracks on the hills so slippery that even that sure-footed animal the mule was often carried over a precipice. Then there were cannibal Indians and Simarons always lurking in the forest, ready to cut off stragglers. On the rumour of a buccaneer landing on the coast--it might be a hundred miles away--the traffic was at once stopped and the merchants began to "fear and sweat with a cold sweat," as Thomas Gage very quaintly puts it. The Spanish merchants no doubt deplored this state of things, and would have been thankful for a good road instead of such an unutterably worthless bridle track. There was, however, a side to the question which probably influenced them--a way that would be easy for them would also be more accessible to their enemies. Then, again, a good road should have been the work of the Spanish Government rather than of the settlers, but it was useless to expect anything from that direction. Nevertheless, a good road and even a canal were mooted before the end of the sixteenth century, thus anticipating the Panama railroad and canal of our own time. But, although the advantages were patent, the difficulties were so many as to be practically insurmountable, and nothing whatever was done. Towards the end of the seventeenth century came a sudden craze for carrying out gigantic schemes of various kinds, practicable or impracticable, useful or worthless, Utopian or utterly absurd. Among them was the Mississippi scheme in France and the South Sea Bubble in England, of which the latter was intimately connected with the Indies. The time had arrived when people began to think of trading on credit or pledges, and of combining together for carrying on banks and other commercial operations. Private banks had existed for several centuries, and more or less public establishments in the great commercial centres, such as Venice, Amsterdam, and Hamburg, but up to the present there was no Bank of England. In fact the great principle that allows an enormous trade to be carried on without the actual interchange of specie or commodities had just been discovered, and the people of France and England went mad over it.