Velázquez has decided, even before Juan de…

Velázquez has decided, even before Juan de Grijalva returns, to send a third and even larger expedition to explore the Mexican coast.

Hernán Cortés, at this time one of Velázquez's favorites and brother-in-law, has been named as the commander, which has created envy and resentment among the Spanish contingent in the Spanish colony.

Velázquez's instructions to Cortés, in an agreement signed on October 23, 1518, are limited to leading an expedition to initiate trade relations with the indigenous coastal tribes, but no authorization for conquest or settlement.

One account suggests that Governor Velázquez wished to restrict the Cortés expedition to being a pure trading expedition.

Invasion of the mainland is to be a privilege reserved for himself as the senior official in Cuba.

However, by calling upon the knowledge of the law of Castile that Cortés likely gained while he was a student in Salamanca and by utilizing his powers of persuasion, Cortés has been able to maneuver Governor Velázquez into inserting a clause into his orders that enables Cortés to take emergency measures without prior authorization, if such were "...in the true interests of the realm."

He is also named the chief military leader and chief magistrate (judge) of the expedition.

Such licenses for expeditions allow the crown to retain sovereignty over newly conquered lands while not risking its own assets in the enterprise.

Spaniards with assets who are willing to risk them to increase their wealth and power can potentially gain even more.

Cortés invests a considerable part of his personal fortune to equip the expedition and probably goes into debt to borrow additional funds.

Expeditions of exploration and conquest are business enterprises, with those investing the more in the enterprise receiving more rewards upon its success.

Greater risk reaps greater rewards.

Men who bring horses, caballeros, receive two shares of the spoils of war, one for the warrior himself, another because of the horse.

When his assets are depleted, Governor Velázquez may have personally contributed nearly half the cost of the expedition.

The ostentatious nature of this operation and the rapidity of its commission probably adds to the envy and resentment of the Spanish contingent in Cuba, who are keenly aware of the opportunity this assignment offers for fame, fortune and glory.