Olomouc was originally an old Slavic settlement. This can be verified from archaeological finds dating back to the 6-th century AD. In the early 11-th century, after the conquest of Moravia and its subsequent annexation by the Czech state of the Premysl dynasty, a stone castle was built on the site of the fortified settlement. Olomouc castle is mentioned for the first time in the Cosmas chronicle written around 1055. In 1063, Vratislav II, the Duke of Prague founded the Bishopric near St. Peter's church. Olomouc castle soon became the second most important administrative centre after Prague. In the first half of the 13-th century new settlement of artisans and merchants around the castle resulted in the further development of the town. The gradual growth of the town culminated by joining the settlement at St. Moritz church and the town of Olomouc was formed. The new construction of the town in the late Gothic and Renaissance styles was extraordinary economic and construction development in Olomouc. Rich burghers and nobility built Renaissance palaces and the whole town was reconstructed including the Cathedral and the Town Hall. The Protestants upheaval, resulting from the uprising of the Estates did not have a great effect on the town. The Thirty Year's War, however, had an immense impact on Olomouc. In 1641 the provincial authorities were moved to Brno. Olomouc became a military fortress in 1655. This was made a necessity as a results of Austria's failure in the war with Prussia, as well as by the loss of Silesia, which made Olomouc the town on the very northern edge of the state and a gateway to the capital city of Vienna. The town began to develop after the formation of the Czechoslovak Republic in 1918. A great deal of development occurred between the World Wars: new factories, public buildings, development of the suburbs and new districts. The promising development was interrupted by the Nazi occupation and World War II. The communist coup and consequent nationalization, in 1948, had negative consequences for the further development of the city. Nevertheless, the re-establishment of private property, competition and the spirit of free-enterprise has already brought significant improvements in both the city center and the suburbs.