The economy was a major problem as well. Diocletian
attempted to reissue coins, however there was not enough gold and silver available to restore confidence in the currency. Eventually, Diocletian had to accept the ruined economy and revised the tax system so that it was based on payments in kind.
To assure the long term survival of the empire, Diocletian identified certain occupations that were crucial to make this happen. Those occupations included soldiers, bakers, tenant farmers and member of the town council. These occupations soon became hereditary and those engaging in them were inhibited to change their careers.
In the beginning of May 305, following his 20 years of rule, Diocletian resigned from his throne. Along with his resignation, Diocletian also compelled Maximianus to do the same. Caesars Constantius and Galerius then became the new Augusti, and two new caesars were appointed - Maximinus in the East and Severus in the West. Diocletian then retired to his palace in Split.