Monaco is a tiny independent sovereign state located between the foot of the Southern Alps and the Mediterranean Sea, nine miles east of Nice, France. Covering less than one square mile, 20% of the land has been claimed from the sea. It is a constitutional monarchy. The official language is French, although Italian and English are widely spoken. The traditional language, “le Monegu,” is spoken amongst elders and is taught in all local schools. The currency is the Euro. The state religion is Catholicism; however, freedom of worship is guaranteed by the Constitution and several religions are represented in Monaco.
The Phoenicians, and after them the Greeks, had a temple on the Monaco headland honoring Hercules. From Monoikos, the Greek surname for this mythological strong man, the principality took its name. After being independent for 800 years, Monaco was annexed to France in 1793, and was placed under Sardinia’s protection on 1815. By the Franco-MonagesqueTreaty of 1861, Monaco went under French guardianship but continued to be independent. A treaty made with France in 1918 contained a clause providing that, in the event that the male Grimaldi dynasty should die out, Monaco would become an autonomous state under French protection.

Monaco has a tourist business that runs as high as 1.5 million visitors a year and is famous for its beaches and casinos. It had gaming tables as early as 1856. Five years later, a 50-year concession to operate the games was granted to François Blanc of Bad Homburg, Germany. This concession passed into the hands of a private company in 1898.
Prince Rainier III, born on May 31, 1923, succeeded his grandfather; Louis II, on the latter’s death, May 9, 1949. Rainier was married, in 1956, to U.S. actress Grace Kelly and they subsequently had three children. Their son, Prince Albert (born 1958) is heir to the throne. Immensely popular, Princess Grace died on September 14, 1982, of injuries received in a car accident near Monte Carlo. She was 52.

Monaco’s practice of providing a tax shelter for French businessmen resulted in a 1962 dispute between the countries. A compromise was reached by which French citizens with less than five years residence in Monaco were taxed at French rates, and taxes were imposed on Monagesque companies doing more than 25% of their business outside the principality. In 1967, Rainier took control of the Société des Bains de Mer, operator of the famous Monte Carlo gambling casino, in a program to increase hotel and convention space. The country celebrated the 700th anniversary of the Grimaldi reign during 1997.