By Sevket Pamuk
This quantity examines the financial historical past of a big empire situated on the crossroads of intercontinental exchange from the fourteenth century until eventually the tip of global battle I. It covers all areas of the empire from the Balkans via Anatolia, Syria, Egypt and the Gulf to the Maghrib. the consequences of economic advancements for social and political background also are mentioned during the quantity. this is often an immense and pathbreaking e-book by way of probably the most extraordinary monetary historians within the box.
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Additional resources for A Monetary History of the Ottoman Empire
These far reaching commercial linkages made it very dif®cult to control the movements of specie and maintain monetary stability. In addition, the Ottoman Empire happened to be located on major trade routes between Asia and Europe. 53 The arrival of large amounts of gold and silver from the Americas did not initiate these movements but certainly added to their volume. As the Ottomans began to establish control over the major trading routes in the eastern Mediterranean in the second half of the ®fteenth century, they welcomed the arrival of specie from the west.
A. Miskimin, Cash, Credit and Crisis in Europe, 1300±1600 (London: Variorum Reprints, 1989); also H. A. Miskimin, ``Money and Money Movements in France and England at the end of the Middle Ages,'' in J. F. ), Precious Metals in the Later Medieval and Early Modern Worlds (Durham, NC: Carolina Academic Press, 1983), 79±96. P. Spufford, Money and its Use in Medieval Europe (Cambridge University Press, 1988), 109±62. Eliyahu Ashtor estimates that in the ®fteenth century, approximately 40 percent of the goods coming from the east were paid by western goods and 60 percent by precious metals.
Trade and money at the origins 23 trade and how the trade balances were paid thus emerge as the key mechanisms in determining where stocks of gold and silver would end up. 4 Peter Spufford, in his Eurocentric pespective, linked the European commercial revolution of the thirteenth century ultimately to the discoveries of silver in Central Europe. He argued that as more specie became available in Europe, there occurred a general expansion of North Italian trade with Constantinople, Syria, and Egypt beginning as early as the middle of the twelfth century.
A Monetary History of the Ottoman Empire by Sevket Pamuk