The Political Economy of Ottoman Public Debt: Insolvency and European Financial Control in the Late Nineteenth Century (Library of Ottoman Studies)

In the midst of political decline and burgeoning financial problems in the late nineteenth century, the Ottoman Empire became embroiled in a borrowing frenzy, which eventually resulted in the financial collapse of the empire. Under political pressure and with the growing need for external funds, the Ottoman court compromised its fiscal sovereignty by ceding the most liquid revenue sources to a financial administration controlled by European creditors. In this book, Murat Birdal sheds light on the handling of the external debt crisis, one of the most controversial periods of Ottoman economic history. Based on extensive archival research foreign archives, he explores the pivotal role of the Ottoman Public Debt Administration (OPDA) in the peripheralization of the Ottoman economy. This book will be invaluable to scholars of Ottoman, Middle East and economic history. "The end of World War II intensified Morocco's nationalist struggle against French colonial rule, with the establishment of the Istiqlal ('independence') party and the Moroccan Sultan's emergence as a national leader. In this book, Daniel Zisenwine charts the rise of Morocco's leading nationalist party, and illustrates the weakness of Moroccan political parties at the outset of the anti-colonial struggle. While Morocco today faces formidable challenges, its political system remains profoundly influenced by the events charted in this book. Drawing from a wide range of previously unpublished sources, Daniel Zisenwine presents the background to the Istiqlal's establishment, its initial actions and demands, and an extensive discussion of its social activities aimed at mobilizing the Moroccan public during the anti-colonial struggle."--Bloomsbury publishing. Contents......Page 8 List of Tables......Page 10 List of Figures......Page 12 Glossary......Page 14 A Note on the Pronunciation of Turkish Words......Page 16 Preface and Acknowledgements......Page 18 1. Introduction......Page 20 2. Ottoman Borrowing in the pre-OPDA period: The Path to the decree of Muharrem......Page 36 3. Coordination, Commitment and Enforcement: Making Sense of the OPDA......Page 82 4. Organizational Structure of the OPDA and the Administration of the indirect revenues......Page 122 5. The Tobacco sector and the Regie Company......Page 148 6. The role of the OPDA in the transformation of the Ottoman Economy......Page 186 Notes......Page 200 Bibliography......Page 232 Index......Page 244 In the midst of political decline and burgeoning financial problems in the late 19th century, the Ottoman Empire became embroiled in a borrowing frenzy, which eventually resulted in the financial collapse of the empire. This work focuses on the handling of the external debt crisis, one of the most controversial periods of Ottoman economic history. Murat Birdal. Includes Bibliographical References (p. [213]-223) And Index.