The governor at once prepared to fit out a large expedition, and among the many who offered to undertake its command, and to contribute largely towards its expenses, he finally selected Cortez, who had gained the ear and influence of the governor's secretary, Duero, and the royal treasurer, Lares.
Cortez was appointed captain general of the expedition, and at once set to work, with his accustomed energy, to gather material for it.
He not only contributed all the fortune he had made, but raised funds by mortgaging his estates to their full value, and by borrowing money from merchants and others, on security of the wealth that was to be acquired by the expedition.
His personal popularity in the island enabled him to gather numerous recruits, and many of his intimate friends, who joined him, assisted him from their own resources or by raising money on their estates.

Velasquez himself contributed comparatively little towards the expenses, which were almost entirely borne by Cortez and his friends.
Six ships were fitted out, and three hundred recruits enrolled.

The instructions Cortez received were first to find Grijalva and, joining company with him, to visit Yucatan, and endeavor to rescue six Christians who were reported as still living there, the survivors of a vessel wrecked, years before, on the coast.

He was to make a survey of the whole coastline, to acquaint himself with the natural productions of the country, and with the character and institutions of the native races.

He was to barter with the natives, and to treat them with kindness and humanity, and to remember, above all things, that the object the emperor had most at heart was the conversion of the Indians.