By 1721, the new Viceroyalty of New Grenada was established and given jurisdiction over the territories that today constitute Venezuela, Colombia, Ecuador and Panama, and Venezuela then became a Province.

During this time, trade emerged as one of the main drivers of the Venezuelan economy, being managed by the Guipuzcoan Company, which held a monopoly on all trade. Foreign commerce opened and all of a sudden, Caracas became a powerhouse city in south America, having commercial relations with England, France and the Netherlands. Venezuela’s main advantage was geographical, being close to colonies of those European Kingdoms.

As the 13 North American Colonies declared their independence on July 4, 1776, Venezuela -still under the rule of the Kingdom of Spain- became a Captaincy General, which was an administrative district that gave the territory more autonomy to reorganize its powers. Some scholars consider the Captaincy General of Venezuela as another Viceroyalty, similar to New Granada (Colombia). The new entity had six provinces: Caracas, Maracaibo, Cumana, Guayana, Trinidad and Margarita.

It wouldn’t take too long for the Captaincy General of Venezuela to follow the steps of the North American 13 Colonies, and shortly after being established, the first movements to declare its independence took place.

In my next entry, I will discuss the causes that led to Venezuela’s independence.