19TH CENTURY OTTOMAN EMPIRE MONETARY ORDER: ECONOMIC ANALYSIS OF
THE USE OF PAPER MONEY

M. �zg�r YANARDA?

doi:10.17719/jisr.2015369554

19TH CENTURY OTTOMAN EMPIRE MONETARY ORDER: ECONOMIC ANALYSIS OF THE USE OF PAPER MONEY

Abstract

Author(s): M. ÃzgÃ¼r YANARDAÄ

The administration and defense of Ottoman Empire’s vast territory required large sums of financial resources, especially in times of war and further expansion. The Empire continuously faced political and economic crisis as a result of this difficult ordeal. Ottoman state authority tried to take financial measures against shortage, and especially in the 19th century, there were important regulations and developments about money. Because of these shortages, The Ottoman Empire was forced to resort to adulteration policy as well. Ottoman state was faced difficulty in balancing the money supply constantly. Even in the strongest period of the Ottoman Empire, in order to provide a stable monetary policy was experienced difficulties.

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