Venezuela approved a new constitution on May 6, 1830. It excluded the majority of the Venezuelan population.
Paez became the president and supreme army commander.
The latifundio was the basic unit of the Venezuelan economy. The economy was propelled by labor systems such as slavery, peonage, tenancy and sharecropping. However, slavery was in decline because it became less profitable. The Congress of 1830 required the freedom of slave children at the age of 21, but more masters freed their slaves voluntarily.
Coffee replaced cacoa as the main export of Venezuela. This helped Venezuela recover economically. However, a coffee boom in the 1830's lead planters to take credit to expand, which then caused a depression in the 1840's when prices dropped.
Paez became the president and supreme army commander.
The latifundio was the basic unit of the Venezuelan economy. The economy was propelled by labor systems such as slavery, peonage, tenancy and sharecropping. However, slavery was in decline because it became less profitable. The Congress of 1830 required the freedom of slave children at the age of 21, but more masters freed their slaves voluntarily.
Coffee replaced cacoa as the main export of Venezuela. This helped Venezuela recover economically. However, a coffee boom in the 1830's lead planters to take credit to expand, which then caused a depression in the 1840's when prices dropped.
