In the course of the administrative reform carried out in 1708 by Peter the Great, the territory was included into Ingermanland Governorate (known since 1710 as St. Petersburg Governorate). In 1727, separate Novgorod Governorate was split off. In 1770, Valday was chartered and became the seat of Valdaysky Uyezd of Novgorod Viceroyalty. In 1796, the viceroyalty was transformed into Novgorod Governorate. Located along the road connecting Moscow and St. Petersburg, Valday developed as a major trade center. The town became the leading center of bell manufacturing in Russia. It also became a major pilgrim destination.