The pirates ate, drank, rioted, and committed all manner of outrages and cruelties upon the inhabitants, closing the performance with the customary threat that if the already distressed and impoverished inhabitants did not pay an enormous ransom, their town would be burned.
Before the ransom was paid, the Governor of Panama heard what was going on at Porto Bello, and sent a force to the assistance of the town, but this time the buccaneers did not hastily retreat, Morgan knew of a narrow defile through which the Spanish forces must pass, and there he posted a number of his men, who defended the pass so well that the Spaniards were obliged to retreat.

This Governor must have been a student of military science; he was utterly astounded when he heard that this pirate leader, with less than four hundred men, had captured the redoubtable town of Porto Bello, defended by a strong garrison and inhabited by citizens who were brave and accustomed to fighting, and, being anxious to increase his knowledge of improved methods of warfare, he sent a messenger to Morgan "desiring him to send him some small pattern of those arms wherewith he had taken with such violence so great a city." The pirate leader received the messenger with much courtesy, and sent to the Governor a pistol and a few balls, "desiring him to accept that slender pattern of the arms wherewith he had taken Porto Bello, and keep them for a twelvemonth; after which time he promised to come to Panama and fetch them away." This courteous correspondence was continued by the Governor returning the pistol and balls with thanks, and also sending Morgan a handsome gold ring with the message that he need not trouble himself to come to Panama; for, if he did, he would meet with very different fortune from that which had come to him at Porto Bello.
Morgan put the ring on his finger and postponed his reply, and, as soon as the ransom was paid, he put his booty on board his ships and departed.

When the spoils of Porto Bello came to be counted, it was found that they were of great value, and each man received a lordly share.
When Captain Morgan was ready to set out on another expedition, he found plenty of pirates ready to join him, and he commanded all the ships and men whom he enlisted to rendezvous at a place called the Isle of Cows.

A fine, large, English ship had recently come to Jamaica from New England, and this vessel also joined Morgan's forces on the island, where the pirate leader took this ship as his own, being much the best and largest vessel of the fleet.
Besides the ships belonging to Morgan, there was in the harbor where they were now congregated, a fine vessel belonging to some French buccaneers, and Morgan desired very much that this vessel should join his fleet, but the French cherished hard feelings against the English, and would not join them.
Although Morgan was a brave man, his meanness was quite equal to his courage, and he determined to be revenged upon these Frenchmen who had refused to give him their aid, and therefore played a malicious trick upon them.

Sometime before, this French vessel, being out of provisions when upon the high seas, had met an English ship, and had taken from her such supplies as it had needed.