The principal articles of export for 1916, with approximate values, were: Coffee, $12,989 000; cacao, $4,318,600; cattle hides, $2,025,000; balati, $809,293; gold, $1,408,900; goat and kid skins, $310,000; asphalt, $288,000; beef cattle, $318,000; sugar, $600,000; copper ore, $300,000; rubber, $140,000; chicle, $26,000, beef, frozen, $334,000; pearls, $172,000.
In foreign trade there is a growing pref erence for the metric system of weights and measures, which was adopted by decree of 18 May 1912.
Money, Banking and The mone tary system is based on the gold standard, the unit being the bolivar, divided into 100 centimos, and weighing 0.32258 grammes of gold .900 fine, or say 0.29032 grammes of pure gold. The par value of the bolivar is $0.19295, cur rency of the United States, and the par value of $1.00 in terms of Venezuelan currency is B 5.18262.
The principal gold in circulation is Vene zuelan gold of the same weight and fineness as that of the Latin Monetary Union. Prob ably more American gold is in circulation in Venezuela than any other foreign gold coin.
In January 1912, the government of Venezuela issued a decree fixing the value of the foreign gold coin circulating in the country and specifying that public offices must receive and pay out these coins at the following rates: Transportation and Communication.—The total length of railways in operation in Vene zuela is 534 miles and the number of lines is 12 (five national and seven foreign), with an invested capital of approximately $40,000,000. There are several points along the coast from which railways extend into the interior, but only in one locality have these lines been con nected. In the extreme west there are three lines approaching Lake Maracaibo, but they are independent of each other and serve quite dif ferent areas of the country. Passing along the coast there are several short lines, facilitating traffic between the interior and the sea; these, too, bear no relation to each other. The only place in the republic where an extensive development has taken place is near the capital Caracas, and in the most populous districts oi the country. From the two most important ports on the Caribbean Sea, Puerto Cabello and La Guaira, railways pass to the interiorne to B Valencia and the other to Caracas. Between these two interior points a third railway has been built, so that this rich and productive dis trict is well supplied, comparatively, with trans portation facilities.
Street railways (electric) are in operation in the capital. The government is giving spe cial attention to the maintenance and improve ment of its public roads and highways. At present two important roads are in process of construction, one 31 miles long, from Caracas to Guatire, and the other 36.6 miles long, from Maracay to Ocumare. The projected Great Western Highway, more than 700 miles long and designed to link Caracas with San Cristo bal, is the greatest public work the country has ever planned. It will give access or facilitate approach to vast areas in seven states. The waterways form important means of communi cation and transportation, there being no less than 70 navigable rivers in the country, with a total navigable length of • over 6,000 miles, of which the Orinoco, the third largest river in South America, with its tributaries, furnishes nearly 4,000 miles. Other navigable rivers are the Meta, the Apure, the Portuguesa, the Yara cuy and the Escalante, all of which are navi gated by steamships for considerable distances. The Zulia-Catatumbo River flows into Lake Maracaibo and is navigable for small steamers, while the majority of the other rivers are navi gable for steam launches and flat-bottom boats only. A regular steamship service is main tained on the Orinoco, Apure and Portuguesa between Ciudad Bolivar, the principal port, on the Orinoco, and the interior, as well as points along the coast. Ocean-going vessels enter Lake Maracaibo, which covers an area of 8,000 square miles, and is navigable in its entirety. Lake Maracaibo is connected with the Gulf of Venezuela and the Caribbean Sea by means of a strait 34 miles in length and from five to nine miles wide. Lake Valencia is navigated by small steamers. With its coast line of more than 2,000 miles, Venezuela possesses no less than 50 bays and 32 ports. The most impqrtant of the latter is La Guaira. Other ports at which ocean-going vessels call regularly are Puerto Cabello, Carupano, Guanta and Cumana. Ciu dad Bolivar, on the Orinoco River, 373 miles inland, and Maracaibo, on Lake Maracaibo, are the most important inland ports.