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
Duvalier dynasty three civilians as well as two military officials. This began a shaky period of transition to full democratic rule. Duvalier dynasty The Duvalier dynasty () was an authoritarian family dictatorship in Haiti that lasted almost twenty-nine years, from 1957 until 1986, spanning the rule of the father and son pair François Duvalier and Jean-Claude Duvalier. Direct elections, the first in Haiti's history, were held in October 1950, and Paul Magloire, an elite black Colonel in the military, was elected. Hurricane Hazel hit the island in 1954, which devastated the nation's infrastructure and economy. Hurricane relief was inadequately distributed and misspent,