Colonial Capitalism and Rural Class Formation (ص 96)

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عنوان

Colonial Capitalism and Rural Class Formation (ص 96)

المحتوى

HO Fae a ban MT Pe pat
stipulated the £oliowing:
The whole of a village or of a town cannot be
given in its entirety to all of the tnhabitants nor
to one or two persons chosen from among’ them.
Separate pleces are granted to each inhabitant and
a title is given to each showing his right of
possession. (Warriner, 1966: pp. 73-74)
With this move, the state hoped to increase its revenue by taxing
every piece of land individually,instead of the previously practiced
method where one general fee was collected from the whole village or
group of villages. While in the long run these legal measures left
their imprint on the general socio-economic structure of Palestine and
on production relations in particular, their short term aim, i.e.,
generating cash desperately needed by the Ottoman state, was not
realized, leaving the state no alternative but foreign help. In
1851, Sultan Rashid Pasha signed an agreement with a French and a
British bank for a state loan of 55 million Francs (Suvla,R.S.,1966:
100). In 1854, soon after the Crimean war, he signed another agreement
for a loan of 3,300,000 Turkish Pounds (one Turkish Pound was
equivalent to one British Pound). Of this loan, however, only
2,514,913 Turkish Pounds were cashed by the Ottoman state and the rest
were deducted as interest on previous loans (interest rates imposed by
these banks ranged between 10 and 12 per cent}. By 1875, the Ottoman
state had amassed a total external debt of nearly 242,000,000 Turkish
Pounds. (Suvla, R. S. 1966: 104)
The inability of the Ottoman Empire to repay its debts to the
European governments pushed it to deal with private capitalists. In
1855, the Ottoman state agreed to a loan of about 5,500,000 British
Pounds from the Rothschilds of London (Suvla, R.S.,1966:100).
Interest accumulated on this loan was estimated at B.P 6,948,612 by
82
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Colonial Capitalism and Rural Class Formation

تاريخ

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المنشئ

Nahla Abdo-Zubi

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