By Sevket Pamuk

This quantity examines the financial background of a giant empire situated on the crossroads of intercontinental alternate from the fourteenth century until eventually the tip of worldwide 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 heritage also are mentioned through the quantity. this can be a massive and pathbreaking publication by way of essentially the most exceptional monetary historians within the box.

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And F. , ``The Silver Currency of Mongol Iran,'' Journal of the Economic and Social History of the Orient 12 (1969), 16±41; also M. A. Seifeddini, Moneti Ilkhanov XIV veka (Baku: 1968). Cipolla, ``Currency Depreciation in Medieval Europe,'' 413±22. For an insightful account, see Spufford, Money and its Use, chapter 13. 8 A Monetary History of the Ottoman Empire Trade and especially payments along the Mediterranean had been dominated by the merchants and currency systems from the eastern end during most of the Middle Ages.

16 A Monetary History of the Ottoman Empire Money, economy, and the Ottoman state In the coinage they issued and in their monetary practices, the Ottomans were in¯uenced by and became the carriers of the great monetary traditions of the Old World and especially the Mediterranean basin, from the Roman and Byzantine empires to the medieval Islamic states, the Mongols of Persia, Italian city states, and the Spanish Empire after the conquest of the Americas. Before we examine these monetary practices in the rest of the volume, however, we need to consider the most basic questions: why did the Ottomans issue coinage and why did they strive, over many centuries, to maintain a stable monetary system?

32 Ottoman economic policies Virtually every state in the Old World had to address a common range of economic problems during the late Medieval and Early Modern periods. The most basic of these problems were related directly to the maintenance of the states themselves. 33 Even though the capacity of states to deal with these economic problems was initially quite limited, important changes took place during these centuries in the capacities, institutional equipment, and even the nature of governments.

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