The story deals with the finding of a great amount of gold buried by Montezuma. Miguel Perez, the Governor of the province, oppresses and enslaves the peons of Mescalito so that they face starvation. Dolores, the daughter of the head man, Juan Icaze, arouses the tyrant's admiration and he decides to annex her. Luckily, however, Miguel's passion is turned momentarily by the capture of Dick Henshaw, a Yankee insurrectionist, who has been leading the insurrectos against the despot. His capture naturally places the revolutionists in a precarious position as they are entirely dependent upon their Yankee leader for success. On the morning of the execution, however, Dick escapes the firing squad and flees, seeking refuge with Juan and Dolores. Miguel wrought up by this escape, satisfies his vengeance by exiling the peons to the salt mines of the Villa Nationale for non-payment of taxes. This practically means a living death, but Juan has the secret of the treasure buried centuries ago, to be used only as a last resort to aid the stricken insurrectionists. Juan pays the taxes with a portion of the treasure and Miguel, with the hope of finding the vast millions, captures Juan and tortures him unto death. Realizing that her father is in danger, Dolores with Dick's help starts an uprising. The plans are laid and formulated and the peons overpower the guards to the castle where Miguel is confined. Upon entering, however, they find Miguel has escaped and that Juan had died as a result of the iniquitous governor. The secret has died with him and search as they may Dolores and Dick are unable to find where the treasure is buried. Peace reigns in Mescallito momentarily and Miguel returns to his palace to assume command again. His hatred of the Yankee insurrectionist leads him on in an endeavor to capture the American. He succeeds in his plot and also captures Dolores. Dick does not fear death, but he is overcome when he finds that Dolores has fallen into the tyrant's hands. Miguel taunts the pair by offering to release Dick if Dolores will submit to his advances, but death is preferable to dishonor and they are led at sun-up to the walls outside the palace, where the firing squad of soldiers reluctantly takes aim. On account of their great love for the daughter of their savior the soldiers suddenly mutiny and Miguel narrowly escapes retribution. In his flight he sees the trap door leading to the treasure vault, but in finding the treasure he meets with instantaneous death, as a viper in the vault stings him. Dick, after killing the viper, discovers Miguel's body surrounded by the vast Aztec treasure. Naturally Dick marries Dolores and he is made Governor General of the province and devotes the treasure toward the betterment and welfare of the oppressed people.