The city of Panama was founded on August 15, 1519 by Pedro Arias Davila, being the first Spanish city on the coasts of the South Sea or Pacific Ocean and the oldest of land that exists until today as a city. Its foundation replaced the previous cities of Santa Maria la Antigua del Darien and Acla, becoming the capital of Castilla del Oro. On September 15, 1521, Panama receives the title of City and a Royal Family Coat of Arms assigned by Carlos V of Spain.
The city of Panama became the starting point for the exploration and conquest of Peru and transit route for the shipments of gold and wealth from the entire Pacific coast of the American continent that were sent to Spain. In 1671 the city was attacked by the forces of the English pirate Henry Morgan with the intention of prowling the city. Security measures were taken to insure the population and the property, the Captain General of the Firm Land, Don Juan Pérez de Guzman orders to evacuate the city and set fire to the deposits of gunpowder causing a gigantic fire that totally destroyed the city. The ruins of the ancient city are still maintained including the tower of its cathedral and are a tourist attraction known as the historic monumental complex of Panama La Vieja, recognized as a world heritage site. Panama City was rebuilt in 1673 in a new location 2 km west-southwest of the original city at the foothills of the currently known Ancon Hill, Known now as Casco Antiguo o Old Town Panama.
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