The Republic of Ragusa, or the Republic of Dubrovnik, was an aristocratic maritime republic centered on the city of Dubrovnik in South Dalmatia that carried that name from 1358 until 1808. It reached its commercial peak in the 15th and the 16th centuries, before being conquered by Napoleon's French Empire and formally annexed by the Napoleonic Kingdom of Italy in 1808. It had a population of about 30,000 people, of whom 5,000 lived within the city walls. Its motto was "Non bene pro toto libertas venditur auro", a Latin phrase which can be translated as "Liberty is not well sold for all the gold".