 It was a stopover point on one of the most important trade routes in the history of the American continent, leading to the famous fairs of Nombre de Dios and Portobelo, where most of the gold and silver that Spain took from the Americas passed through.Built and settled in 1671 after the destruction of Panama Viejo by the privateer Henry Morgan, the historic district of Panama City (known as Casco Viejo, Casco Antiguo, or San Felipe) was conceived as a walled city to protect its settlers against future pirate attacks.It was designated a World Heritage Site by UNESCO in 2003.