Franz Joseph I or Francis Joseph was Emperor of Austria, Apostolic King of Hungary, King of Bohemia, King of Croatia, King of Galicia and Lodomeria and Grand Duke of Cracow from 1848 until his death in 1916.
Franz Joseph is know for his main foreign policy goal: the unification of Germany under the House of Habsburg.
He was troubled by nationalism during his entire reign. Franz Joseph concluded the Ausgleich of 1867, which granted greater autonomy to Hungary, hence transforming the Austrian Empire into the Austro-Hungarian Empire under his Dual Monarchy. His domains were then ruled peacefully for the next 45 years.
In 1892, Franz Joseph approved the waiver of the old monetary system (based on farthings, florins and thalers) and switching to a modern monetary system, compatible with the Latin Monetary Union, based on the Austrian crown (divided into 100 Heller).
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