Novi Sad is the second largest city in Serbia. The city was founded in 1694, when Serb merchants formed a colony across the Danube from the Petrovaradin fortress, a Habsburg strategic military post. In the 18th and 19th centuries, it became an important trading and manufacturing centre, as well as a centre of Serbian culture of that period, earning the nickname Serbian Athens. The city was heavily devastated in the 1848 Revolution, but it was subsequently restored. Today, Novi Sad is an industrial and financial centre of the Serbian economy, as well as a major cultural center. The name Novi Sad means "New Plantation" (noun) in Serbian. Its Latin name, stemming from establishment of city rights, is "Neoplanta".