Abstract

The Turkish Debt
Clark, Jane Perry | July 23, 1930 issue

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The article critically appraises the book "European Financial Control in the Ottoman Empire," by Donald C. Blaisdell. Blaisdell tells the complicated story simply, beginning with the days when Turkey, like many another "backward" and unstable country, offered a chance to financiers and speculators to lend money for the easy realization of speedy profits and an opportunity to small investors to obtain high interest rates. By the fourth quarter of the nineteenth century the Ottoman government had piled up a foreign debt of two hundred million pounds sterling. Realizing the well-high impossible situation into which it had fallen, it defaulted on the charges.

See Also:

BOOKS & reading; EUROPEAN Financial Control in the Ottoman Empire (Book); BLAISDELL, Donald C.; CAPITALISTS & financiers; INTEREST rates; TURKEY
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