One of the past Time Lord Presidents.

Species Name: Time Lord
Homeworld: Gallifrey

Average Lifespan: If they are careful, they can live forever. In actual fact, they have 13 incarnations, and if they die in one body, each atom in their existence changes, giving them an entirely new body, as well as personality. Once they use up all 13 lives, they die forever. However, in special circumstances, they can petition for more regenration cycles from the Council, but this happens rarely.
Physical Description: The Time Lords look perfectly human, apart from their two distinct hearts, unless during a regeneration they chose to 'try on different bodies' and look like someone from another species. It is argued that possibly it was the Time Lords that made all other humanoid species the way they were, and so are like the true Gods of the universe, as they were also the first sentient life form.

Culture: The Time Lord homeworld, Gallifrey, is an Earth-like planet in the "constellation" of Kasterborous. Its capital city is also called Gallifrey (sometimes referred to as the Citadel), and contains the Capitol, the seat of Time Lord government. At the centre of the Capitol is the Panopticon, beneath which is the Eye of Harmony. Outside the Capitol lie wastelands where the "Outsiders", Time Lords who have dropped out of Time Lord society, live in less technological tribal communities, shunning life in the cities. In general, the Time Lords are an aloof people, with a society full of pomp and ceremony, preferring to stay out of the affairs outside of their planet. They are still, however, the caretakers of the universe.
Time Lord society is closely modelled on academic hierarchies. Each belongs to one of a number of various colleges or chapters, such as the Patrexes, Arcalian, and the Prydonian chapters, which have ceremonial and possibly political significance. Each chapter also has its own colours; the Prydonians wear scarlet and orange, the Arcalians wear green and the Patrexeans wear heliotrope. The Prydonian chapter has a reputation for being devious, and tends to produce renegades; the Doctor, the Master and the Rani are all Prydonians, for example. The colleges of the Academy are led by the Cardinals. Ushers, who provide security and assistance at official Time Lord functions, may belong to any chapter, and wear all-gold uniforms.

Rulers/Governing Body: The executive political leadership is split between the Lord President, who keeps the ceremonial relics of the Time Lords, and the Chancellor, who appears to be the administrative leader of the Cardinals and who acts as a check on the power of the Lord President. The President is an elected position and on Presidential Resignation Day, the outgoing President usually names his successor, who is then also usually confirmed in a non-contested "election". However, it is still constitutionally possible for another candidate to put themselves forward for the post.
The President and Chancellor also sit on the Time Lord High Council, akin to a legislative body, composed variously of Councillors and more senior Cardinals. Also on the High Council is the Castellan of the Chancellory Guard, in charge of the security of the Citadel, the leader of a palace guard. According to the constitution, if while in emergency session the other members of the High Council are in unanimous agreement, even the President's orders can be overruled.

Currency: There isn't a specific currency for the Time Lords.

For more information, please see Wikipedia by clicking here The History will be a bit diffrent here though.

http://meshyfish.com/~roo/docwho1.html

I just found a lot of information on the Time Lords. Probably more than even Wikipedia has but I am putting this info down as well. Although it is lengthy, it's there for FYI.