"This story is about ruin," states Martin Ruiz, setting the tone at the very start. Martin, once a Spanish soldier who has amassed great wealth, serves as a narrator, recounting the tale of Francisco Pizarro. Despite his advancing years, Pizarro, with just 167 men, succeeded in overthrowing an empire of 24 million Incans, a feat that fills Ruiz with regret every time he recalls the moment he first encountered Pizarro.

The Call to Adventure

The narrative then transports us back four decades when Pizarro is busy rallying soldiers in Spain for his impending journey to Peru. Among the recruits is young Martin, a fifteen-year-old steeped in the ideals of chivalry and a fervent supporter of his king and faith. His enthusiasm leads him to enlist eagerly. Here, we also meet the religious figures: Valverde, the Dominican chaplain; his colleague, the Franciscan de Nizza; Pedro de Candia, a Venetian cavalier in charge of weaponry; and the haughty Miguel Estete, who, representing King Carlos, poses a threat to Pizarro's authority in the New World. Thus prepared, the expedition plunges into the dense forest.

The Incan Empire Awaits

In the following scene, we are introduced to Atahuallpa, the divine ruler of the Incas; his high priest, Villac Umu; and Challcuchima, his general. Atahuallpa awaits the arrival of a white god, believing it to be a blessing. This innocent belief will ultimately lead to his downfall.

Clash of Cultures

The story alternates between the Incan court perched high in the mountains and the advancing Spanish forces. After six weeks of arduous travel, the Spaniards emerge from the forest and reach the threshold of the Incan Empire, greeted by a road that stretches fifteen feet wide. Here, they encounter General Challcuchima, who invites them to meet the God-king at Cajamaarca, a month's journey into the mountains. Upon their arrival, Atahuallpa demands to meet their god, whom he assumes to be Pizarro. Valverde, offended by such perceived sacrilege, incites Pizarro to attack. Act one concludes with a mime depicting the horrific massacre. The Incans suffer great losses, and Atahuallpa is captured. Pizarro subsequently crowns himself king.

Act 2: The Kill

The second act, titled "The Kill," explores the intense conflict between Pizarro and his captive, Atahuallpa, who still holds the power to overthrow the Spanish forces. Initially, communication is hindered by Felipillo, the deceitful Incan interpreter, who harbors desires for Atahuallpa's wife. Young Martin, however, has acquired enough of the Incan language to detect Felipillo's deception and informs Pizarro. From then on, Martin, known for his tact and honesty, becomes the interpreter, gaining insight into all that transpires between the two leaders over the following months.

Bargains and Betrayals

Pizarro, motivated by greed rather than glory, offers Atahuallpa freedom in exchange for filling a room measuring twenty-two feet by seventeen feet with gold. Trusting the Spanish promises, Atahuallpa orders the collection of gold from his vast empire. Coming from a culture rooted in honesty, he fails to suspect any duplicity from his captors. During the time it takes to amass this treasure, Atahuallpa engages in philosophical debates with the churchmen about divinity and with Pizarro about the essence of kingship.

The Verdict and Its Aftermath

Despite Pizarro's reluctance to harm Atahuallpa, pressure from his men mounts, compelling him to realize that his legacy as a conqueror demands the Incan ruler's death. Atahuallpa, convinced of his divine nature, remains unafraid, telling the aging Pizarro, "You will die soon and you do not believe in your god. That is why you tremble and keep no word. Believe in me." Caught between his ambitions and his conscience, Pizarro allows a Spanish tribunal to condemn Atahuallpa, accusing him of "usurping the throne and killing his brother; of idolatry and having more than one wife." The God-king is sentenced to death, failing the ultimate proof of his divinity. Pizarro, surprisingly, seems to yearn for belief in Atahuallpa's divinity, and the execution leaves him profoundly shaken.