Ottoman Foreign Debt and the Establishment of the Duyun-u Umumiye
Ottoman Empire took its first foreign loan during the Crimean War of 1853-1856. In order to understand the very reason of this action we have to analyse the background which entails a study of the world order during the 19th century, the internal dynamics of the Ottoman Empire, the social actors and their division of labour within the administration.
We will follow Robert Cox’s writings on the “Pax Britannica” to give a background information on the world order during this time. Accordingly, this historical structure was indeed a hegemonic one.
note: the picture is taken from the web address:
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