The Ottoman Empire was an agrarian economy that was labor scarce, land rich and capital-poor. The majority of the population earned their living from small family holdings. This contributed to around 40 percent of taxes for the empire directly as well as indirectly through customs revenues on exports.
The Galata bankers' transcending their merchant identities to become the Ottoman Empire's creditors began in large part with the financing of the Tanzimat reforms. Despite years of problems in public finance, the government's steady financing relationship with the bankers began after this period.
How did the Ottomans get rich off of the Venetians?
As a Venetian ambassador expressed, "being merchants, we cannot live without them." The Ottomans sold wheat, spices, raw silk, cotton, and ash (for glass making) to the Venetians, while Venice provided the Ottomans with finished goods such as soap, paper, and textiles.
The economy of the Ottoman Empire suffered significantly after European powers began trading with East Asia and the East Indies by sea rather than through Ottoman-controlled land routes.
Although the USA didn't surrender, The state had to accept the regulations of the Ottomans for the trade. The USA appointed a delegation to make negotiations between the United States and the Ottoman Empire. As a result, the United States agreed to pay the tribute to be part of the trade-in the Mediterranean Sea.
Trade, agriculture, transportation, and religion make up the Ottoman Empire's economy. The Ottomans saw military expansion of currency, more emphasis on manufacturing and industry in the wealth-power-wealth equation, and moving towards capitalist economics comprising expanding industries and markets.
Together, the Ottoman Empire and Venice grew wealthy by facilitating trade: The Venetians had ships and nautical expertise; the Ottomans had access to many of the most valuable goods in the world, especially pepper and grain.
In addition, a bad monetary policy resulted in inflation becoming a major problem. The Crimean war of 1853-1856 was followed by a new period of economic mismanagement. For the first time, the Ottoman Empire borrowed large sums of money from foreign powers.
Bayezid Osman, 44th Head of the House of Osman (2009–2017), great-grandson of Sultan Abdulmejid I. Dündar Ali Osman, 45th Head of the House of Osman (2017–2021), great-grandson of Sultan Abdul Hamid II. Harun Osman, 46th Head of the House of Osman (2021–present), great-grandson of Sultan Abdul Hamid II.
Most of its remaining European territory was lost in the Balkan Wars (1912–13). The Ottoman Empire sided with Germany in World War I (1914–18); postwar treaties dissolved the empire, and in 1922 the sultanate was abolished by Mustafa Kemal Atatürk, who proclaimed the Republic of Turkey the following year.
It is not surprising that the Ottoman Empire, racked by rebellions, corruption in the administration, financial weaknesses and military defeats, was labelled the 'Sick Man of Europe'.
In the Ottoman case, tax farming was not only related to the fact that it continued throughout the century as an essential mechanism of an extensive revenue collection system but also mainly related to direct taxes on agricultural production as well as indirect taxes such as customs duties (Özbek, 2018).
At the time of conquering Constantinople, the Ottomans weren't as big of a naval power. The Venetians were and could call in the help of others if need to. Second, Venice was an important trade-hub which pulled from the trade the Ottomans controlled.
How did the Ottoman Empire respond to non Muslims?
Officially the Ottoman Empire was an Islamic Caliphate ruled by a Sultan, Mehmed V, although it also contained Christians, Jews and other religious minorities. For nearly all of the empire's 600-year existence these non-Muslim subjects endured systematic discrimination and, at times, outright persecution.
The living members of the dynasty were initially sent into exile as personae non-gratae, though some have been allowed to return and live as private citizens in Turkey. In its current form, the family is known as the Osmanoğlu family.
In 1924, all high ranking members of the Royal family had been given travel documents valid for one year and were exiled. The family scattered to Europe, the US and the Middle-East. The last Sultan himself went to Sanremo, others to Switzerland and Southern France. Most lived in poverty.
Originally Answered: What would have happened if the Ottoman Empire never collapsed? If it had escaped WWI, becoming an oil producer in Iraq would have provided more than enough revenue to stabilize it. Oil would be piped directly to the Mediterranean or all the way through Anatolia to Europe.
The Ottomans were faced with a large coalition of European States which joined forces and ultimately halted the Ottoman war-machine. The Ottomans were also faced with some challenging geography in the shape of the Carpathian mountains. These acted as a natural barrier to north and western Europe.
By the nineteenth century, many of its territories in North Africa, Europe, and West Asia were lost. In 1923, the modern Turkish Republic, established by Mustafa Kemal Atatürk, replaced the Ottoman state.
Five hundred years ago, Sultan Suleiman I (reigned 1520–66) ascended to the throne. Although he was the longest-reigning and arguably greatest of all Ottoman sultans, his time on the throne began under the long shadow cast by his father, Selim 'the Grim'.
Siege of Vienna, (July 17–September 12, 1683), expedition by the Ottomans against the Habsburg Holy Roman emperor Leopold I that resulted in their defeat by a combined force led by John III Sobieski of Poland. The lifting of the siege marked the beginning of the end of Ottoman domination in eastern Europe.
