The currency of Venezuela is established upon a gold standard, with the result that there is none of the depreciated coinage which constitutes one of the curses of the neighbouring State of Colombia. The monetary unit is the _bolivar_, equivalent to the French franc, the London rate of exchange being generally 25.25; this is divided into 100 centimos, and the system is therefore in theory extremely simple; since, however, there is in practice a multiplicity of terms and coins, it is a matter of time for the visiting foreigner to become sufficiently familiar with both to carry on business with promptitude and confidence. The coins issued by the Government of Venezuela are of gold, silver, and nickel, in the following values: gold, 100 bolivars, 25 bolivars, and 20 bolivars; silver, 5, 2½, and 2 bolivars, 1, ½, ¼, and ⅕ bolivar, the limit of legal payments in silver being restricted to sums under 50 bolivars; nickel, 12½ centimos and 5 centimos, with which sums may be paid not exceeding 20 bolivars. The three principal banks, _i.e._, the Banco de Venezuela, Banco Carácas, and Banco de Maracaibo, have the right at present to issue notes, but these, though current at par in the region where the banks are situated, are often refused in more remote districts. The following gold coins are also current in practice; American gold pieces of 20, 10, and 5 dollars, the dollar being reckoned as 5 bolivars; old Spanish onzas; and those issued by different Latin-American States both before and after secession from Spain, at the nominal value of 80 bolivars, but in both cases there is a premium on gold coin which renders the 20-dollar piece worth 104 bolivars and the onza 82 bolivars. Finally, the English sovereign is readily accepted in Carácas, the premium varying from 4 to 10 per cent. according to circumstances.