Up until 1910 year, Ottoman Empıre resorted to borrowing as a method of balancing
her revenues and expenses. As a matter of fact, the attempt, which was initiated in May 1910,
was only one of them. What distinguishes it from other borrowing attempts is that France, the
biggest creditor ally of the Empire, stipulated political conditions beyond financial ones, with
the concern that Turkey could become closer with the Triple Allicance and the presumption
that Ottoman empire had no other source of borrowing other than France, which brought
the process to a stalemate. Whereupon, the scene was set for the new British-origined actor
of Ottoman financial life, Turkish National Bank. Upon the negative reaction from Britishallied
France towards the British Bank’s intervention, it is seen that British Government
stopped supporting the bank and that the bank even started mediation attempts with French
government. As a result of this, Ottoman Empire took the way of borrowing from German
group of banks. It is seen that the whole process was treated in detail by the presses of related
countries and that the process constituted the subject matter of many discussions.
Primary Language | Turkish |
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Journal Section | Research Articles |
Authors | |
Publication Date | March 30, 2018 |
Submission Date | April 20, 2017 |
Published in Issue | Year 2017 Volume: 17 Issue: 35 |