i34 SELLING LATIN AMERICA 
of gold dust to stores to trade for supplies. 
There is undoubtedly much gold to be found 
in the country and the man with determination 
and enterprise who will follow this clue is sure 
to get rich returns. 
The Island of Margarita, off the coast of 
Venezuela, and owned by the Republic, pro 
duces the finest of pearls and mother of pearl. 
Other islands off the coast are rich in guano 
and phosphate rock. 
Venezuela is on a gold basis, the bolivar, 
equalling almost 20 cents in our currency, be 
ing the unit of value. The peso, according to 
which bills of the country are reckoned, con 
sists of four bolivars, and is a fictitious coin 
not existing in reality. The “peso fuerte,” or 
five-bolivar piece, is a regular silver coin. 
The bulk of the business of Venezuela is 
handled by the Germans, although the United 
States takes most of its exports, with France 
second, Germany third and England fourth. 
German merchants are all over the country, 
the Italians also are much in evidence. 
In 1912, the latest data available, Venezuela