Ottoman Empire Essay Example | Topics and Well Written Essays - 1000 words - 1

fag Empire - Essay ExampleThe great disruption of the Ottoman preservation was caused by the inflation due to the in run of princely, facile, and other cunning metals from the New World. The Ottomans experienced the dissemble of the increased flow of precious metal before the 17th century. The flow of American silver probably began to affect the Ottoman economy by 1580. While the first effects of the New World silver were experienced in Ottoman Anatolia by 1580, the roughly significant response of Ottoman prices occurred between 1585 and 1606. (Bulut, 65) Therefore, the effect of gold and precious metals on the economy as head as social life of the Ottoman Empire is grave to recognize and this paper makes a reflective analysis of the impact of precious metals on the Ottoman Empire.In a profound exploration of the impact of precious metals on the Ottoman Empire, it becomes lucid that the Empire was self-sufficient with regard to the availability of various precious metals. Th e political supremacy over the neighboring nations offered an important chance to the Ottomans to import metals which were not available in the Empire. Thus, it may be noted that grain and other foodstuffs, iron, atomic number 29 or cloth for everyday use were manufactured in sufficient quantities with the territories of the Empire. The Ottomans were largely autocratic in terms of war materials and the other precious metals were imported into the Empire. The Ottoman political elite and the better-off townsmen consumed Indian spices and Yemini coffee. altogether these Indian and Yemini imports led to a significant outflow of silver and gold, but precious metals were mined on Ottoman territory only in very moderate quantities. Although by the middle of the sixteenth century, most of Hungary was in the hands of the sultans, the mines that had supplied raw materials for the countrys famous fifteenth century gold- and silversmiths remained outside Ottoman control and, moreover, were slight productive than they had once been. (Faroqhi, 14) Therefore, the impact of precious metals on the Ottoman Empire is unquestionable and the introduction of gold and precious metals to the Ottoman Empire had a vital influence on their economy as well as social life. It is important to realize that the introduction of gold and precious metals had a vital impact on the Ottoman economy. Significantly, the introduction of various precious metals played a major influence on the European economy. Similarly, gold and precious metals played a major impact on the various aspects of the economy and these metals contributed to the increase in prices in the Ottoman Empire towards the end of the sixteenth century. The great change in the European economy wrought by all this precious metal also had its effects on the Ottoman Empire. Since European merchants traded in Ottoman territories, some silver from the New World found its charge to the Ottoman lands. The Ottoman rulers encouraged the import of these coins. The Ottomans could not find a way to use these coins as investments in their economy. They tried to keep this money within the country. As an important factor the import supplies of silver contributed to the inflation. (Bulut, 65) Thus, a reflective analysis of the various aspects of the Ottoman economy confirms that the impact of gold and preci