Venezuela was discovered on Christopher Columbus’s 3rd voyage in 1498.  In 1499, Amerigo Vespucci explored Venezuela which reminded him of Venice, Italy and named the area Venezuela signifying “Little Venice.”  With the lack of ore and organized indigenous populations, Venezuela became a stop for the Spanish slave trade but there were few Spanish colonies.  In the 1600s, agriculture became important revenue for the area and focused on cocoa production.  The low Spanish cocoa prices and unfair trade deals spurred Venezuela’s revolution from Spain starting with Francisco de Miranda and later Simón Bolívar.  On July 5, 1811, Venezuela declared independence from Spain but it was not until 1821 that Venezuela was free of Spanish rule and Bolívar was named President.  When Bolívar was exiled in 1830, Venezuela was ruled by generals and dictators until 1935.  From 1935 to 1958, Venezuela transitioned from a dictatorship to a stable democracy.