CHAPTER XVI

THE DEVELOPMENT OF VENEZUELA 235

Commerce—Early history—Pearls and gold—The Guipuzcoana Company—The republic—Years of struggle—Separation from Colombia—Guzman Blanco—British, American, and German trade—Opportunities—Currency—Banking—Banco de Venezuela—Banco Carácas—Banco de Maracaibo—National Debt—Natural resources—Large returns on capital—Coal—Iron—Salt—Asphalt and petroleum—Sulphur—Copper—Gold—The Llanos—Stock-raising—Possibilities of the industry—The Venezuelan Meat Products Syndicate—Agriculture—Coffee—Cocoa— Sugar—Tobacco—Cotton—Rubber—Tonka-beans, balatá, sernambi and copaiba—Fisheries—Pearls—Industries—Chocolate—Cotton-mills —Tanning—Matches, glass, and paper—Cigarettes and beer—Arts and sciences—Academy of History—Universities—Surveys.