Meanwhile the Italian mint coined thalers bearing the portrait of King Humbert, with an inscription referring to the Italian protectorate, and on the 1st of January 1890 a royal decree conferred upon the colony the name of Eritrea.
The last Count of Promnitz, whose ancestor had purchased both baronies from Frederick of Bohemia in 1556, sold them in 1765 to the elector of Saxony for an annuity of 12,000 thalers (rSoo).
In this they were not successful; but a government stipend of 200 thalers was given him, and even this miserable pittance was of great importance, so straitened were his circumstances.
Finally, in 1870, 1,000,000 thalers were paid to Mecklenburg and 85,000 thalers to Anhal, which thereupon abandoned all claims to levy tolls upon the Elbe shipping, and thus navigation on the river became at last entirely free.
The first ten years of his active reign passed in peace and quiet; agriculture, manufactures and industries were fostered, economical reforms instituted, and the heavy public debt of forty million thalers was steadily reduced.
On the conclusion of peace Saxony lost no territory, but had to pay a war indemnity of ten million thalers, and was compelled to enter the North German Confederation.
The prince had to pay 7000 thalers to the elector of Saxony and 3500 to the duke of Saxe-Weimar, and numerous disputes arose in connexion with the superiorities thus indicated.
Of the thalers, the Vereinsthaler, coined until 1867 in Austria, was by ordinance of the Bundesrat declared illegal tender since the 1St of January 1903.
The total value of thalers, which, with the exception of the Vereinstbaler, are legal tender, was estimated in 1894 at about 20,000,000.
Great quantities of thalers, which hitherto had been the staple of the currency, were sold.
In 1867 the peace establishment had been provisionally fixed by the constitution at 1% of the population, and a sum of 225 thalers (~33, 15s.) had been voted for each soldier.
By continual economy he left in the former the immense sum of 70 million thalers; the latter, at the time of his death, numbered 200,000 men, disciplined with all the strictness to which he had throughout life accustomed his troops.
His income amounted at Nuremberg to 1500 gulden (130) and a house; at Heidelberg, as professor, he received about the same sum; at Berlin about 3000 thalers (L300).
She also received an indemnity of two millions of thalers and a solemn undertaking of non-interference in her domestic affairs.
Twice during the Seven Years' War Berlin was attacked by the enemy: in 1757 by the Austrians, who penetrated into the suburbs and levied a heavy contribution, and in 1760 by the Russians, who bombarded the city, penetrated into it, and only retired on payment of a ransom of 1,500,000 thalers (225,000).