The Belle Époque or La Belle Époque was a period of Western European history. It is conventionally dated from the end of the Franco-Prussian War in 1871 to the outbreak of World War I in around 1914. Occurring during the era of the French Third Republic (beginning 1870), it was a period characterized by optimism, regional peace, economic prosperity and technological, scientific and cultural innovations. In the climate of the period, especially in Paris, the arts flourished. Many masterpieces of literature, music, theater, and visual art gained recognition. The Belle Époque was named, in retrospect, when it began to be considered a "golden age" in contrast to the horrors of World War I. In the United Kingdom, the Belle Époque overlapped with the late Victorian era and the Edwardian era. In Germany, the Belle Époque coincided with the reigns of Kaiser Wilhelm I and II, in Russia with the reigns of Alexander III and Nicholas II, in the newly-rich United States, emerging from the Panic of 1873, the comparable epoch was dubbed the Gilded Age and in Mexico to the period known as the Porfiriato.