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Early History The city was founded in 15 BC by Drusus and Tiberius as Augusta Vindelicorum (Latin pronunciation: [awˈɡuːsta wɪndɛlɪˈkoːrʊ̃] English pronunciation of Latin: /aʊˈɡuːstə vɪnˈdɛlɪˌkoʊrəm/[4]), on the orders of their stepfather Emperor Augustus. The name means "Augusta of the Vindelici". This garrison camp soon became the capital of the Roman province of Raetia. Early development was due to a 400-year affiliation with the Roman Empire, especially because of its excellent military, economic and geographic position at the convergence of the Alpine rivers Lech and Wertach, and with direct access to most important Alpine passes. Thus, Augsburg was the intersection of many important European east-west and north-south connections, which later evolved as major trade routes of the Middle Ages.[5] Around 120 AD Augsburg became the capital of the Roman province Raetia. Augsburg was sacked by the Huns in the 5th century AD, by Charlemagne in the 8th century, and by Welf of Bavaria in the 11th century, but arose each time to greater prosperity. Augsburg Confession Augsburg was granted the status of a Free Imperial City on March 9, 1276 and from then until 1803, it was independent of its former overlord, the Prince-Bishop of Augsburg. Frictions between the city-state and the prince-bishops were to remain frequent however, particularly after Augsburg became Protestant and curtailed the rights and freedoms of Catholics. With a strategic location as intersection of trade routes to Italy, the Free Imperial City became a major trading center. Augsburg produced large quantities of woven goods, cloth and textiles. Augsburg became the base of two banking families that rose to great prominence, the Fuggers and the Welsers. The Fugger family donated the Fuggerei part of the city devoted to housing for needy citizens in 1516, which remains in use today. Perlach market place in 1550 Panorama of Augsburg, 1493 In 1530, the Augsburg Confession was presented to the Holy Roman Emperor at the Diet of Augsburg. Following the Peace of Augsburg in 1555, after which the rights of religious minorities in imperial cities were to be legally protected, a mixed Catholic–Protestant city council presided over a majority Protestant population; see Paritätische Reichsstadt.