The Agricultural Credit System in the Ottoman Empire between 1863 and 1888

Agricultural credit organisations are paramount to every country because agriculture must operate under threats of risk and uncertainty. When small-scale family farms are dominant, all types of agricultural organisations become important to keep farmers’ incomes at a reasonable level and encourage a...

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Bibliographic Details
Published in:Rural history 2017-10, Vol.28 (2), p.177-188
Main Author: DOKUZLU, SERTAÇ
Format: Article
Language:English
Subjects:
19th century
Accumulation
Agricultural cooperatives
Agricultural development
Agricultural lending
Agricultural production
Byzantine civilization
Capital formation
Cooperatives
Credit
Farmers
Farms
Peasants
Rural areas
Rural communities
Taxes
Uncertainty
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Summary:Agricultural credit organisations are paramount to every country because agriculture must operate under threats of risk and uncertainty. When small-scale family farms are dominant, all types of agricultural organisations become important to keep farmers’ incomes at a reasonable level and encourage agricultural development. Midhat Pasha understood the importance of agricultural organisations, and he created a well-designed system for agricultural credit. He is the founder of Homeland Coffers that distribute credits to farmers. The original side of these credit organisations was capital accumulation and the methods of using it. Capital for these Coffers were provided by the joint actions of credit users. Midhat Pasha connected two cooperatives while the production cooperative provided capital for Homeland Coffers, they operated as a credit cooperative for twenty-five years in the Ottoman Empire. This credit organisation helped development of agriculture and provided many social benefits to the rural area.
ISSN:0956-7933
1474-0656
DOI:10.1017/S0956793317000139