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From this period, we rarely hear of him in the troubled scenes that ensued. He probably took no further part in affairs than was absolutely forced on him by circumstances; but the unfavorable bearing of his remarks on Gonzalo Pizarro intimates, that, however he may have been discontented with the conduct of the viceroy, he did not countenance, for a moment, the criminal ambition of his rival. The times were certainly unpropitious to the execution of the financial reforms for which Zarate had come to Peru. But he showed so much real devotion to the interests of the Crown, that the emperor, on his return, signified his satisfaction by making him Superintendent of the Finances in Flanders.

Soon after his arrival in Peru, he seems to have conceived the idea of making his countrymen at home acquainted with the stirring events passing in the colony, which, moreover, afforded some striking passages for the study of the historian. Although he collected notes and diaries, as he tells us, for this purpose, he did not dare to avail himself of them till his return to Castile. "For to have begun the history in Peru," he says, "would have alone been enough to put my life in jeopardy; since a certain commander, named Francisco de Carbajal, threatened to take vengeance on any one who should be so rash as to attempt the relation of his exploits, ---far less deserving, as they were, to be placed on record, than to be consigned to eternal oblivion." In this same commander, the reader will readily recognize the veteran lieutenant of Gonzalo Pizarro.

On his return home, Zarate set about the compilation of his work. His first purpose was to confine it to the events that followed the arrival of Blasco Nunez; but he soon found, that, to make these intelligible, he must trace the stream of history higher up towards its sources. He accordingly enlarged his plan, and, beginning with the discovery of Peru, gave an entire view of the conquest and subsequent occupation of the country, bringing the narrative down to the close of Gasca's mission. For the earlier portion of the story, he relied on the accounts of persons who took a leading part in the events. He disposes more summarily of this portion than of that in which he himself was both a spectator and an actor; where his testimony, considering the advantages his position gave him for information, is of the highest value.

Alcedo in his Biblioteca Americana, MS., speaks of Zarate's work as "containing much that is good, but as not entitled to the praise of exactness." He wrote under the influence of party heat, which necessarily operates to warp the fairest mind somewhat from its natural bent. For this we must make allowance, in perusing accounts of conflicting parties. But there is no intention, apparently, to turn the truth aside in support of his own cause; and his access to the best sources of knowledge often supplies us with particulars not within the reach of other chroniclers. His narrative is seasoned, moreover, with sensible reflections and passing comments, that open gleams of light into the dark passages of that eventful period. Yet the style of the author can make but moderate pretensions to the praise of elegance or exactness; while the sentences run into that tedious, interminable length which belongs to the garrulous compositions of the regular thoroughbred chronicler of the olden time.