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238 by the aborigines, together with a number of his captains and sailors. The survivors burned one of the three remaining ships and continued their voyage. They found the Moluccas, the famous Spice Islands; they sighted Borneo and reached Tidor. There, one of the two ships, too leaky to be of further use, remained behind with her crew. The "Vittoria," under Sebastian del Cano, crossed the Indian Ocean, missed seeing the northern coast of Australia (which was not discovered until the first half of the seventeenth century when ships of the Dutch East India Company explored this flat and inhospitable land), and after great hardships reached Spain.

This was the most notable of all voyages. It had taken three years. It had been accomplished at a great cost both of men and money. But it had established the fact that the earth was round and that the new lands discovered by Columbus were not a part of the Indies but a separate continent. From that time on, Spain and Portugal devoted all their energies to the development of their Indian and American trade. To prevent an armed conflict between the rivals, Pope Alexander VI (the only avowed heathen who was ever elected to this most holy office) had obligingly divided the world into two equal parts by a line of demarcation which followed the 50th degree of longitude west of Greenwich, the so-called division of Tordesillas of 1494. The Portuguese were to establish their colonies to the east of this line, the Spaniards were to have theirs to the west. This accounts for the fact that the entire American continent with the exception of Brazil became Spanish and that all of the Indies and most of Africa became Portuguese until the English and the Dutch colonists (who had no respect for Papal decisions) took these possessions away in the seventeenth and eighteenth centuries.

When news of the discovery of Columbus reached the Rialto of Venice, the Wall street of the Middle Ages, there was a terrible panic. Stocks and bonds went down 40 and 50 percent. After a short while, when it appeared that Columbus had failed to find the road to Cathay, the Venetian merchants