On March 20, 1848 Ludwig I was forced to abdicate the throne in favor of his son Maximilian, which had consequences for the continuation of the monument project since the "Bavaria" statue and the Hall of Honor, as with all of Ludwig's national monuments, were carried out and financed privately. Although Maximilian obligated himself to continue the project, only 9,000 guilders per year were allocated for it in his budget, which was completely inadequate. Miller, who had advanced the costs for the casting from his own resources, got into serious financial difficulties. Only when Ludwig agreed to privately finance the completion of the Bavaria statue could it be finished. In all, the Hall of Fame cost the king 614,000 guilders, the Bavaria statue 286,346 guilders and the property on which they stood 13,784 guilders. Miller was never recompensed for part of the costs, but the beneficial advertising effects for the foundry turned out to be so great that his expenses could be more than recovered from the many orders the company subsequently received, and the later privatized foundry remained in business until up into the 1930s. Over one hundred other major bronze works of art located worldwide were produced in this foundry, including Klenze's obelisk on Munich's Karolinenplatz, Bertel Thorvaldsen’s statue of Friedrich Schiller on Stuttgart’s Schillerplatz, and Christian Daniel Rauch’s statue of Maximilian I of Bavaria in front of the National Theater in Munich.