On June 27th 1358 the Republic of Ragusa (also known as the Republic of Dubrovnik) was founded. It was a maritime republic centred on the city of Dubrovnik in Dalmatia, today this lies in south Croatia. The Republic of Ragusa lasted from 1358 to 1808, the republic reached its commercial peak in the 15th and 16th centuries. In 1808 the republic was conquered by Napoleon and the French Empire and was formally annexed by the Napoleonic Kingdom of Italy. It had a population of about 30,000 people, out of whom 5,000 lived within the city walls. Its motto was “Non bene pro toto libertas venditur auro“, which translated from Latin means “Liberty is not well sold for all the gold”.