The evolution of financial institutions in the Ottoman Empire, 1600-1914

Financial History Review

Volumn 11, Issue 1, 2004, Pages 7-32

  Pamuk, Şevket ^a  

^a BOGAZICI UNIVERSITY   (Turkey)

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[No Author keywords available]

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EID: 3042669115     PISSN: 09685650     EISSN: None     Source Type: Journal    
DOI: 10.1017/S0968565004000022     Document Type: Review

References (93)

1. Earlier versions of this paper were presented at the University of Venice Summer School in Financial History and the Research Division of the Bank of Italy at Rome. I would like to thank Patrick O'Brien, the participants of those meetings, and an anonymous referee of this journal for many helpful comments.
2. Douglass C. North and Robert P. Thomas, The Rise of the Western World: a New Economic History (Cambridge, 1973); Douglass C. North, Institutions, Institutional Change and Economic Performance (Cambridge, 1990); Thrain Eggertsson, Economic Behavior and Institutions (Cambridge, 1990); more recently, Daron Acemoglu, Simon Johnson and James Robinson, 'The rise of Europe: Atlantic trade, institutional change and economic growth', unpublished manuscript, 2002.
3. Douglass C. North and Robert P. Thomas, The Rise of the Western World: a New Economic History (Cambridge, 1973); Douglass C. North, Institutions, Institutional Change and Economic Performance (Cambridge, 1990); Thrain Eggertsson, Economic Behavior and Institutions (Cambridge, 1990); more recently, Daron Acemoglu, Simon Johnson and James Robinson, 'The rise of Europe: Atlantic trade, institutional change and economic growth', unpublished manuscript, 2002.
4. Douglass C. North and Robert P. Thomas, The Rise of the Western World: a New Economic History (Cambridge, 1973); Douglass C. North, Institutions, Institutional Change and Economic Performance (Cambridge, 1990); Thrain Eggertsson, Economic Behavior and Institutions (Cambridge, 1990); more recently, Daron Acemoglu, Simon Johnson and James Robinson, 'The rise of Europe: Atlantic trade, institutional change and economic growth', unpublished manuscript, 2002.
5. Douglass C. North and Robert P. Thomas, The Rise of the Western World: a New Economic History (Cambridge, 1973); Douglass C. North, Institutions, Institutional Change and Economic Performance (Cambridge, 1990); Thrain Eggertsson, Economic Behavior and Institutions (Cambridge, 1990); more recently, Daron Acemoglu, Simon Johnson and James Robinson, 'The rise of Europe: Atlantic trade, institutional change and economic growth', unpublished manuscript, 2002.
6. C. Kafadar, Between Two Worlds: the Construction of the Ottoman State (Berkeley, 1995); H. W. Lowry, The Nature of the Early Ottoman State (Albany, 2003); and D. Quatett, The Ottoman Empire, 1700-1922 (Cambridge, 2000), pp. 13-30.
7. C. Kafadar, Between Two Worlds: the Construction of the Ottoman State (Berkeley, 1995); H. W. Lowry, The Nature of the Early Ottoman State (Albany, 2003); and D. Quatett, The Ottoman Empire, 1700-1922 (Cambridge, 2000), pp. 13-30.
8. C. Kafadar, Between Two Worlds: the Construction of the Ottoman State (Berkeley, 1995); H. W. Lowry, The Nature of the Early Ottoman State (Albany, 2003); and D. Quatett, The Ottoman Empire, 1700-1922 (Cambridge, 2000), pp. 13-30.
9. F. Braudel, Civilization and Capitalism, 15th-18th Century, vol. III: The Perspective of the World (New York, 1984), pp. 471-3.
10. S. Faroqhi, 'The early history of Balkan fairs', Südost-Forschungen, 37 (1978); S. Faroqhi, 'Sixteenth century periodic markets in various Anatolian sancaks', Journal of the Economic and Social History of the Orient, 22 (1979).
11. S. Faroqhi, 'The early history of Balkan fairs', S̈udost-Forschungen, 37 (1978); S. Faroqhi, 'Sixteenth century periodic markets in various Anatolian sancaks', Journal of the Economic and Social History of the Orient, 22 (1979).
12. Suraiya Faroqhi, Pilgrims and Sultans: the Hajj under the Ottomans 1517-1683 (London and New York, 1994), PP- 74-91, 158-68.
13. For a recent discussion of the classical Islamic views on interest, see N. A. Saleh, Unlawful Gain and Legitimate Profit in Islamic Law: Riba, Gharar and Islamic Banking (Cambridge, 1988), pp. 9-32.
14. R. C. Jennings, 'Loans and credit in early 17th century Ottoman judicial records', Journal of the Economic and Social History of the Orient, 16 (1973).
15. M. Çizakça, A Comparative Evolution of Business Partnerships: the Islamic World and Europe with Specific Reference to the Ottoman Archive (Leiden, 1996), pp. 131-4.
16. J. E. Mandaville, 'Usurious piety: the cash waqf controversy in the Ottoman Empire', International Journal of Middle East Studies, 10 (1979).
17. A. L. Udovitch, Partnership and Profit (Princeton, 1970), pp. 170-217; and Çizakça, A Comparative Evolution, pp. 66-76.
18. A. L. Udovitch, Partnership and Profit (Princeton, 1970), pp. 170-217; and Çizakça, A Comparative Evolution, pp. 66-76.
19. In essence, this was identical to the commenda of Europe. For discussions of the Islamic origins of European commenda, see A. L. Udovitch, 'At the origins of the Western commenda: Islam, Israel, Byzantium', Speculum, 37 (1962); and E. Ashtor, 'Banking instruments between the Muslim east and the Christian west', Journal of European Economic History, 1 (1972) and Çizakça, A Comparative Evolution, pp. 10-32.
20. In essence, this was identical to the commenda of Europe. For discussions of the Islamic origins of European commenda, see A. L. Udovitch, 'At the origins of the Western commenda: Islam, Israel, Byzantium', Speculum, 37 (1962); and E. Ashtor, 'Banking instruments between the Muslim east and the Christian west', Journal of European Economic History, 1 (1972) and Çizakça, A Comparative Evolution, pp. 10-32.
21. In essence, this was identical to the commenda of Europe. For discussions of the Islamic origins of European commenda, see A. L. Udovitch, 'At the origins of the Western commenda: Islam, Israel, Byzantium', Speculum, 37 (1962); and E. Ashtor, 'Banking instruments between the Muslim east and the Christian west', Journal of European Economic History, 1 (1972) and Çizakça, A Comparative Evolution, pp. 10-32.
22. Çizakça, A Comparative Evolution, pp. 65-85 and 126-31; also M. Çizakça, 'Financing silk trade in the Ottoman Empire: 16th-18th centuries', in Simonett Cavaciocchi (ed.), La seta in Europa secc. XIII-XX (Prato, 1993), pp. 711-23.
23. Çizakça, A Comparative Evolution, pp. 65-85 and 126-31; also M. Çizakça, 'Financing silk trade in the Ottoman Empire: 16th-18th centuries', in Simonett Cavaciocchi (ed.), La seta in Europa secc. XIII-XX (Prato, 1993), pp. 711-23.
24. Udovitch, Partnership and Profit, pp. 268-9; Ashtor, 'Banking instruments', pp. 554-62; and H. Sahillioǧlu, 'Bursa kadi sicillerinde iç ve diş, ödemeler arac i olarak "Kitabü'1- Kadi" ve "Süftece" ler', in O. Okyar and H. Ü. Nalbandoǧlu (eds.), Türkiye Iktisat Tarihi Semineri (Ankara, 1975).
25. Udovitch, Partnership and Profit, pp. 268-9; Ashtor, 'Banking instruments', pp. 554-62; and H. Sahillioǧlu, 'Bursa kadi sicillerinde iç ve diş, ödemeler arac i olarak "Kitabü'1- Kadi" ve "Süftece" ler', in O. Okyar and H. Ü. Nalbandoǧlu (eds.), Türkiye Iktisat Tarihi Semineri (Ankara, 1975).
26. Udovitch, Partnership and Profit, pp. 268-9; Ashtor, 'Banking instruments', pp. 554-62; and H. Sahillioǧlu, 'Bursa kadi sicillerinde iç ve diş, ödemeler arac i olarak "Kitabü'l- Kadi" ve "Süftece" ler', in O. Okyar and H. Ü. Nalbandoǧlu (eds.), Türkiye Iktisat Tarihi Semineri (Ankara, 1975).
27. Inalcik emphasizes the use of hawala in state transactions. H. Inalcik, 'Hawale', Encyclopedia of Islam, second edition, vol. III (Leiden and New York, 1969), pp. 283-5.
28. S. Pamuk, A Monetary History of the Ottoman Empire (Cambridge, 2000), pp. 66-76.
29. C. P. Kindleberger, A Financial History of Western Europe, second edition (Oxford, 1993), pp. 57-63.
30. Pamuk, A Monetary History of the Ottoman Empire, pp. 63-6, 70-4.
31. Halil Inalcik and Donald Quataert (eds.), An Economic and Social History of the Ottoman Empire, 1300-1914 (Cambridge, 1994), pp. 212-14.
32. Linda T. Darling, Revenue-Raising and Legitimacy: Tax Collection and Finance Administration in the Ottoman Empire, 1560-1660 (Leiden, 1996); H. Inalcik, 'Military and fiscal transformation in the Ottoman Empire, 1600-1700', Archivum Ottomanicum, 6 (1980).
33. Linda T. Darling, Revenue-Raising and Legitimacy: Tax Collection and Finance Administration in the Ottoman Empire, 1560-1660 (Leiden, 1996); H. Inalcik, 'Military and fiscal transformation in the Ottoman Empire, 1600-1700', Archivum Ottomanicum, 6 (1980).
34. M. Genç, 'A study of the feasibility of using eighteenth century Ottoman financial records as an indicator of economic activity', in Huri Islamoǧlu-Inan (ed.), The Ottoman Empire and the World Economy (Cambridge, 1987).
35. Çizakça, A Comparative Evolution, pp. 135-92.
36. Ariel Salzman, 'An ancien régime revisited: "privatization" and political economy in the eighteenth century Ottoman Empire', Politics and Society, 21 (1993).
37. Genç, 'A study of the feasibility', pp. 354-9.
38. Yavuz Cezar, Osmanli Maliyesinde Bunalim ve Deiǧişm Dönemi: XVIII. yy.dan Tanzimat'a Mali Tarih (Istanbul, 1986), pp. 81-3; also M. Genç, 'Esham', Islam Ansiklopedisi, II (1995), pp. 376-80.
39. Yavuz Cezar, Osmanli Maliyesinde Bunalim ve Deiǧişm Dönemi: XVIII. yy.dan Tanzimat'a Mali Tarih (Istanbul, 1986), pp. 81-3; also M. Genç, 'Esham', Islam Ansiklopedisi, II (1995), pp. 376-80.
40. Cezar, Osmanli Maliyesinde Bunalim, pp. 128-34
41. Based on series of central government budget documents and author's estimates of per capita income in the Ottoman Empire.
42. Pamuk, A Monetary History of the Ottoman Empire, pp. 193-200.
43. C. Issawi, The Economic History of Turkey, 1800-1914 (Chicago, 1980), chapter 3; and S. Pamuk, The Ottoman Empire and European Capitalism, 1820-1913: Trade, Investment and Production (Cambridge, 1987), chapter I.
44. C. Issawi, The Economic History of Turkey, 1800-1914 (Chicago, 1980), chapter 3; and S. Pamuk, The Ottoman Empire and European Capitalism, 1820-1913: Trade, Investment and Production (Cambridge, 1987), chapter I.
45. The guild of sarrafs had a membership of 72 around 1750 and 89 in 1835; A. Şahiner, 'The sarrafs of Istanbul: financiers of the empire', MA dissertation, Boǧaziçi University, Department of History (1995), pp. 78-83.
46. T. Stoianovich, 'The conquering Balkan Orthodox merchant", The Journal of Economic History, 20 (1960).
47. Şahiner, 'The sarrafs of Istanbul', pp. 87-99; O. Jamgocyan, 'Les finances de l'Empire Ottoman et les financiers de Constantinople, 1732-1853', unpublished PhD dissertation, Université de Paris I, Panthéon- Sorbonne (1988), traces the lives and financial affairs of the leading Ottoman sarrafs through their correspondence with their European associates, by utilising the European archives.
48. Şahiner, 'The sarrafs of Istanbul', pp. 87-99; O. Jamgocyan, 'Les finances de l'Empire Ottoman et les financiers de Constantinople, 1732-1853', unpublished PhD dissertation, Université de Paris I, Panthéon- Sorbonne (1988), traces the lives and financial affairs of the leading Ottoman sarrafs through their correspondence with their European associates, by utilising the European archives.
49. Genç, 'A study of the feasibility', pp. 347-54; and Çizakça, A Comparative Evolution, pp. 169-78.
50. Genç, 'A study of the feasibility', pp. 347-54; and Çizakça, A Comparative Evolution, pp. 169-78.
51. Çizakça, A Comparative Evolution, pp. 165-6; also Salzman, 'An ancien régime revisited', pp. 39-423.
52. Çizakça, A Comparative Evolution, pp. 165-6; also Salzman, 'An ancien régime revisited', pp. 39-423.
53. Çizakça, A Comparative Evolution, pp. 172-6.
54. E. Eldem, 'La circulation de la lettre de change entre la France et Constantinople au xvIIIe siècle', in H. Batu andj. L. Bacque-Gremmont (eds.), L'Empire Ottoman, la république de Turquie et la France (Istanbul, 1986), pp. 87-97.
55. A. Udovitch has referred to the financiers in the medieval Islamic world as 'bankers without banks'. This apt term also characterises the position of the Galata bankers before the 18405. A. Udovitch, 'Bankers without banks: commerce, banking and society in the Islamic world of the Middle Ages', Princeton Near East Papers, No. 30 (Princeton, 1981).
56. Stanford J. Shaw and Ezel Kuran Shaw, History of the Ottoman Empire and Modern Turkey, vol. II, 1808-1975 (Cambridge, 1977), p. 32. Annual revenues of the central government were close to 200 million kurush at that time.
57. Haydar Kazgan, 'Ikinci Sultan Mahmut Devrinde Enflasyon ve Darphane Amiri Kazaz Artin', Toplum ve Bilim, II (1980), pp. 122-5.
58. Kazgan, 'Ikinci Sultan Mahmut devrinde enflasyon', p. 119.
59. H. Kazgan, Osmanli da Avrupa Finans Kapitali (Istanbul, 1995), pp. 17-19.
60. Hasan Ferid, Nakid ve Itibar-1 Mali, 3, Kitab: Bankacilik (Istanbul: Matbaa-i Aniire, H.1334/1918), pp. 26-66; Kazgan, Osmanlida Avmpa Finans Kapitali, p. 20; H. Kazgan, Osmanlidan Cumhuriyete Türk Bankacilik Tarihi (Istanbul, 1997), pp. 25-32; and I. Tekeli and S. Ilkin, Türkiye Cumhuriyete Merkez Bankasi (Ankara, 1997), pp. 53-4.
61. Hasan Ferid, Nakid ve Itibar-1 Mali, 3, Kitab: Bankacilik (Istanbul: Matbaa-i Aniire, H.1334/1918), pp. 26-66; Kazgan, Osmanlida Avmpa Finans Kapitali, p. 20; H. Kazgan, Osmanlidan Cumhuriyete Türk Bankacilik Tarihi (Istanbul, 1997), pp. 25-32; and I. Tekeli and S. Ilkin, Türkiye Cumhuriyete Merkez Bankasi (Ankara, 1997), pp. 53-4.
62. Hasan Ferid, Nakid ve Itibar-1 Mali, 3, Kitab: Bankacilik (Istanbul: Matbaa-i Aniire, H.1334/1918), pp. 26-66; Kazgan, Osmanlida Avmpa Finans Kapitali, p. 20; H. Kazgan, Osmanlidan Cumhuriyete Türk Bankacilik Tarihi (Istanbul, 1997), pp. 25-32; and I. Tekeli and S. Ilkin, Türkiye Cumhuriyete Merkez Bankasi (Ankara, 1997), pp. 53-4.
63. Hasan Ferid, Nakid ve Itibar-1 Mali, 3, Kitab: Bankacilik (Istanbul: Matbaa-i Aniire, H.1334/1918), pp. 26-66; Kazgan, Osmanlida Avmpa Finans Kapitali, p. 20; H. Kazgan, Osmanlidan Cumhuriyete Türk Bankacilik Tarihi (Istanbul, 1997), pp. 25-32; and I. Tekeli and S. Ilkin, Türkiye Cumhuriyete Merkez Bankasi (Ankara, 1997), pp. 53-4.
64. Kazgan, Osmanli da Avrupa Finans Kapitali, pp. 120-2; Tekeli and Ilkin, Merkez Bankasi, pp. 62-9.
65. Kazgan, Osmanli da Avrupa Finans Kapitali, pp. 120-2; Tekeli and Ilkin, Merkez Bankasi, pp. 62-9.
66. Ali Akyildiz, Osmanli Finans Sisteminde Döniim Noktasi: Kaǧit Para ve Sosyo-Ekonomik Etkileri (Istanbul, 1995), pp. 50-90; Roderic Davison, 'The first Ottoman experiment with paper money', in Osman Okyar and Halil Inalcik (eds.), Social and Economic History of Turkey (1071-1920), Papers Presented to the First International Congress on the Social and Economic History of Turkey (Ankara, 1980); M. Erol, Osmanli Imparatorluǧu'nda Kaǧit Para (Kaime) (Ankara, 1970), pp. 5-7.
67. Ali Akyildiz, Osmanli Finans Sisteminde Döniim Noktasi: Kaǧit Para ve Sosyo-Ekonomik Etkileri (Istanbul, 1995), pp. 50-90; Roderic Davison, 'The first Ottoman experiment with paper money', in Osman Okyar and Halil Inalcik (eds.), Social and Economic History of Turkey (1071-1920), Papers Presented to the First International Congress on the Social and Economic History of Turkey (Ankara, 1980); M. Erol, Osmanli Imparatorluǧu'nda Kaǧit Para (Kaime) (Ankara, 1970), pp. 5-7.
68. Ali Akyildiz, Osmanli Finans Sisteminde Döniim Noktasi: Kaǧit Para ve Sosyo-Ekonomik Etkileri (Istanbul, 1995), pp. 50-90; Roderic Davison, 'The first Ottoman experiment with paper money', in Osman Okyar and Halil Inalcik (eds.), Social and Economic History of Turkey (1071-1920), Papers Presented to the First International Congress on the Social and Economic History of Turkey (Ankara, 1980); M. Erol, Osmanli Imparatorluǧu'nda Kaǧit Para (Kaime) (Ankara, 1970), pp. 5-7.
69. Akyildiz, Kaǧit Para, pp. 91-174; Erol, Osmanli Imparatorluǧu'nda, pp. 15-27.
70. Akyildiz, Kaǧit Para, pp. 91-174; Erol, Osmanli Imparatorluǧu'nda, pp. 15-27.
71. Christopher Clay, Gold for the Sultan: Western Bankers and Ottoman Finance, 1856-1881 (London, 2000); for an earlier treatment, see D. C. Blaisdell, European Financial Control in the Ottoman Empire (New York, 1929).
72. Christopher Clay, Gold for the Sultan: Western Bankers and Ottoman Finance, 1856-1881 (London, 2000); for an earlier treatment, see D. C. Blaisdell, European Financial Control in the Ottoman Empire (New York, 1929).
73. Vedat Eldem, Osmanli Imparatorluǧu'nun Iktisadi Şartlari Hakkinda Bir Tetkik (Istanbul, 1970), pp. 302-9; Osman Okyar, 'A new look at the problem of economic growth in the Ottoman Empire, 1800-1914', The Journal of European Economic History, 16 (1987).
74. Vedat Eldem, Osmanli Imparatorluǧu'nun Iktisadi Şartlari Hakkinda Bir Tetkik (Istanbul, 1970), pp. 302-9; Osman Okyar, 'A new look at the problem of economic growth in the Ottoman Empire, 1800-1914', The Journal of European Economic History, 16 (1987).
75. R. Kasaba, 'Izmir Ticaret Bankasi', Tarih ve Toplum, 43 (1987), pp. 57-60.
76. Edhem Eldem, A History of the Ottoman Bank (Istanbul, 1999), pp. 29-126; A. du Velay, Essai sur l'histoire financière de la Turquie (Paris, 1903), pp. 126-9.
77. Edhem Eldem, A History of the Ottoman Bank (Istanbul, 1999), pp. 29-126; A. du Velay, Essai sur l'histoire financière de la Turquie (Paris, 1903), pp. 126-9.
78. A. Autheman, La Banque Impériale Ottomane (Paris, 1996), pp. 1-32; J. Thobie, 'European banks in the Middle East', in Rondo Cameron and V. I. Bovykin (eds.), International Banking 1870-1914 (Oxford, 1991), p. 407; C. Clay, 'The bank notes of the Imperial Ottoman Bank, 1863-1867', New Perspectives on Turkey, 9 (1993); also A. Billiotti, La Banque Impériale Ottomane (Paris, 1909); and A. du Velay, Essai sur l'histoire financière.
79. A. Autheman, La Banque Impériale Ottomane (Paris, 1996), pp. 1-32; J. Thobie, 'European banks in the Middle East', in Rondo Cameron and V. I. Bovykin (eds.), International Banking 1870-1914 (Oxford, 1991), p. 407; C. Clay, 'The bank notes of the Imperial Ottoman Bank, 1863-1867', New Perspectives on Turkey, 9 (1993); also A. Billiotti, La Banque Impériale Ottomane (Paris, 1909); and A. du Velay, Essai sur l'histoire financière.
80. A. Autheman, La Banque Impériale Ottomane (Paris, 1996), pp. 1-32; J. Thobie, 'European banks in the Middle East', in Rondo Cameron and V. I. Bovykin (eds.), International Banking 1870-1914 (Oxford, 1991), p. 407; C. Clay, 'The bank notes of the Imperial Ottoman Bank, 1863-1867', New Perspectives on Turkey, 9 (1993); also A. Billiotti, La Banque Impériale Ottomane (Paris, 1909); and A. du Velay, Essai sur l'histoire financière.
81. A. Autheman, La Banque Impériale Ottomane (Paris, 1996), pp. 1-32; J. Thobie, 'European banks in the Middle East', in Rondo Cameron and V. I. Bovykin (eds.), International Banking 1870-1914 (Oxford, 1991), p. 407; C. Clay, 'The bank notes of the Imperial Ottoman Bank, 1863-1867', New Perspectives on Turkey, 9 (1993); also A. Billiotti, La Banque Impériale Ottomane (Paris, 1909); and A. du Velay, Essai sur l'histoire financière.
82. A. Autheman, La Banque Impériale Ottomane (Paris, 1996), pp. 1-32; J. Thobie, 'European banks in the Middle East', in Rondo Cameron and V. I. Bovykin (eds.), International Banking 1870-1914 (Oxford, 1991), p. 407; C. Clay, 'The bank notes of the Imperial Ottoman Bank, 1863-1867', New Perspectives on Turkey, 9 (1993); also A. Billiotti, La Banque Impériale Ottomane (Paris, 1909); and A. du Velay, Essai sur l'histoire financière.
83. Thobie, 'European banks', pp. 407-8, Tekeli and Ilkin, Merkez Bankasi, pp. 62-9.
84. Thobie, 'European banks', pp. 407-8, Tekeli and Ilkin, Merkez Bankasi, pp. 62-9.
85. Eldem, Ottoman Bank, pp. 275-304; Thobie, 'European banks', pp. 413-37; Autheman, La Banque, chapters 6-11.
86. Eldem, Ottoman Bank, pp. 275-304; Thobie, 'European banks', pp. 413-37; Autheman, La Banque, chapters 6-11.
87. Eldem, Ottoman Bank, pp. 275-304; Thobie, 'European banks', pp. 413-37; Autheman, La Banque, chapters 6-11.
88. Thobie, 'European banks', pp. 421-5; C. Clay, 'The origins of modern banking in the Levant: the development of a branch network by the Imperial Ottoman Bank, 1890-1914', International Journal of Middle East Studies, 26 (1994).
89. Thobie, 'European banks', pp. 421-5; C. Clay, 'The origins of modern banking in the Levant: the development of a branch network by the Imperial Ottoman Bank, 1890-1914', International Journal of Middle East Studies, 26 (1994).
90. Z. Toprak, Türkiye'de Milli Iktisat 1908-1918 (Ankara, 1982), pp. 137-49; Tekeli and Ilkin, Merkez Bankasi, pp. 136-61.
91. Z. Toprak, Türkiye'de Milli Iktisat 1908-1918 (Ankara, 1982), pp. 137-49; Tekeli and Ilkin, Merkez Bankasi, pp. 136-61.
92. Donald Quataert, 'Dilemma of development: the Agricultural Bank and agricultural reform in Ottoman Turkey, 1888-1908', International journal of Middle East Studies, 6 (1975), pp. 210-27; Y. S. Atasagun, Türkiye Cumhuriyeti Ziraat Bankasi 1888-1939 (Istanbul, 1939).
93. Donald Quataert, 'Dilemma of development: the Agricultural Bank and agricultural reform in Ottoman Turkey, 1888-1908', International journal of Middle East Studies, 6 (1975), pp. 210-27; Y. S. Atasagun, Türkiye Cumhuriyeti Ziraaat Bankasi 1888-1939 (Istanbul, 1939).