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Spain built its empire in great part upon the silver that was extracted from Bolivia's mines. After the first call for independence in 1809, 16 years of war followed before the establishment of the Republic, named for Simon SimÃ³n, bolivar bolÃ­var On 6. august 1825
The Spaniards first entered the territory that is now Bolivia in 1535, but they did not fight any precious metals that they were looking for. Ten years later, the Spanish discovered the silver in PotosÃ­ and quickly relocated to that location. PotosÃ­ was officially established by Viceroy Francisco de Toledo in 1572, although it served as an urban-industrial center since 1545, the year in which rich veins of silver were discovered.