Currency of Venezuela liquidated in 1867. It issued notes for "5 pesos sencillos" (face, Spanish) or "5 dollars currency" (back, English), dated January 23, 1865. Treasury issued notes ("billetes de Tesoreria") for 5 pesos under an authorization of January 19, 1869. Venezolano = 100 Centavos (Céntimos, Centésimos) Conversion: 1 venezolano = 1 fuerte (peso fuerte) On March 29, 1871, all coin in circulation, whatever its condition, was declared legal tender so long as one of the two sides was clearly legible, A monetary law of May 11 then established the venezolano of 100 centavos as money of account and adopted the Latin Monetary
Cross of Gold speech caused by the Napoleonic Wars caused United States gold coins to be worth more as bullion than as money, and they vanished from circulation. Governmental response to this shortage was hampered by the fact that officials did not clearly understand what had happened. In 1830, Treasury Secretary Samuel D. Ingham proposed adjusting the ratio between gold and silver in US currency to 15.8:1, which had for some time been the ratio in Europe. It was not until 1834 that Congress acted, changing the gold/silver ratio to 16.002:1. This was close enough to the market value to make it uneconomic to