Rival Pirates and Spanish gold are the ingredients for this story. Blackie the pirate is the one who first hears about this shipment of gold when he encounters "Don" Pedro. He thinks of a plan to find this ship and its gold. His counter player is the viceroy of the Spanish colony. When they visit one of the pirate settlements, they find three other pirate captains there. One of them sells goods and prisoners from his latest capture. Don Pedro recognizes the wife of the viceroy, and Blackie buys her. However, one of the pirate captains, Skull, also knows who she is, and tries to make a deal. Blackie refuses, and Skull makes a deal with the other two pirate captains to plot against Blackie.