History of Bolivia to 1809 reduction in silver output. After 1700 only small amounts of bullion from Upper Peru were shipped to Spain. Kings from the Bourbon Dynasty in Spain tried to reform the colonial economy in the mid-eighteenth century by reviving mining. The Spanish crown provided the financial support necessary to develop deeper shafts, and in 1736 it agreed to lower the tax rate from 20 to 10 percent of the total output. The crown also helped create a minerals purchasing bank, the Banco de San Carlos in 1751 and subsidized the price of mercury to local mines. The foundation of an academy of
House of Bourbon democracy; the Spanish Constitution of 1978 recognized the monarchy. Since 1964 the Bourbon-Parma line has reigned agnatically in Luxembourg through Grand Dukes Jean and his son Henri. In June 2011, Luxembourg adopted absolute primogeniture, replacing the old Semi-Salic law that might have guaranteed the survival of Bourbon rule for generations. Though it is not as powerful as it once was and no longer reigns in its native country of France, the House of Bourbon is by no means extinct and has survived to the present-day world, predominantly composed of republics. The House of Bourbon, in its surviving branches, is believed