The Republic of Ragusa, today known as Dubrovnik, and its surroundings gained remarkable significance due to trading all over the Mediterranean and beyond between the 14th and the 18th centuries. During earlier times, whilst under the rule of Venice (1205-1358), the Republic established trade links all over the Adriatic Sea, especially with Italian city-states. After gaining independence from Venice in 1358, Dubrovnik flourished into a modern independent city-state with wide-spread connections all around Europe. During the wealthiest period of the Republic, between the 14th and 18th centuries, it recognized the authority of seven different monarchs or states within it.
The Republic’s motto was “Non bene pro toto libertas venditur auro,” meaning “liberty is not well sold for all the gold.”