Charles III , son of Philip V and his second wife , Elizabeth Farnese , born in Madrid on January 20, 1716 . In 1731 he became Duke of Parma and Tuscany , and between 1735 and 1759 was King of Naples . In 1759 he succeeded his brother Ferdinand VI on the Spanish throne , a position he occupied until his death . In the cultural field , Charles III understood that national prosperity passed through the cultural and educational development . In this sense , encouraged scientific investigation , reformed teaching and encouraged the spread of knowledge . As for foreign policy , tried to maintain the prestige and presence Spanish colonial expansionism threatened by Britain and France , mainly . To do this , reformed the army and raised the Spanish naval power , so much that could be considered at the time as the most powerful after the British . All these measures were carried out by the beginning of his reign with the Marquis of Esquilache government. Were leading his very effective measures but were coping with the aristocracy and clergy , who, seeing their interests threatened , provoked an uprising popular is known as the Mutiny of Esquilache . This forced the monarch to have to expel the Jesuits and limiting the power of the Inquisition . Economically remember this monarch because it tended to unify the monetary system by creating the first paper money and the first state bank ( Banco de San Charles 1782) . In foreign policy were crucial 3 points or goals : Peace in the Mediterranean to ensure Spanish trade in these waters , neutralize Britain in the American colonies and recover Minorca and Gibraltar in British hands , get regain top spot but not the second which is still a British colony . Dying in 1788 was succeeded on the throne his son Charles IV .