Gold for the Sultan

Part 1 Introduction: Western bankers and Ottoman finance - the problem to be investigated. Part 2 The national bank concession (1856-63): Ottoman finances before the Crimean War and the first bank projects; the first phase of the battle for the "national" concession; the second phase of the battle for the "national" concession; the crisis of Ottoman finance; Fuat Pasha and the founding of the BIO; the BIO - functions and organization. Part 3 The bank, government and the conversion of the internal debt (1863-65): the BIO and the loan of 1863-64; the emergence of rivals to the BIO; the challenge of the general credit and finance company; the conversion of the internal debt and the loan of December 1865. Part 4 Ottoman government borrowing at flood-tide (1866-73) - part 1: the BIO and the government, 1866-69 - years of crisis and conflict; the "emprunt pinard" of 1869 and the Constantinople financial crisis of 1870; "entr'acte" - the loans of 1871 and 1872. Part 5 Ottoman government borrowing at flood-tide (1866-73) - part 2: financial rivalries and alliances on the shores of the Golden Horn; Ottoman railway finance - the lottery loan of 1870-72; boom-time in Constantinople, 1872-73; the climax of Ottoman government borrowing - the loans of 1873. Part 6 On the edge of insolvency (1874-75): the origins of the new banking concession; the enlargement of the BIO; the winning of the "rade" and the LS 40 million loan; the ratification of the bank's new convention; the BIO and the supervision of the government's finances. Part 7 The bankruptcy of the state (1875-76): the collapse of the government's finances; the bankruptcy of October 1875; the Hamond and Scouloudi projects. Part 8 Ottoman finance in wartime (1876-78): revolution and paper money; the depreciation of the "kaime"; other aspects of wartime finance; the tribute bondholders and the defence loan of 1877. Part 9 The search for solvency (1878-79): the financial situation of the government in the post-war years; new advances and "compensations"; the dishonouring of the "kaime"; the de Tocqueville scheme; the bank scheme and its successors. Part 10 The bankers' convention (1879-80): development projects and administrative reform; the making of the bankers' convention; the survival of the convention. Part 11 Towards a resolution (1880-81): the bank and the bondholders; the Baltazzi tobacco "regie" scheme. Part 12 The debt settlement and the origins of the public debt administration (1881 and after): the Constantinople negotiations - the delegates and the government; the Constantinople negotiations - the delegates and the convention syndicate; the Constantinople negotiations -between the delegates themselves; the decree of Muharren; conclusion - the BIO and the survival of the Ottoman state.