Özet:

European states, enriched after the Industrial Revolution, started to lend money to countries in economic distress from the second half of the 19th century. After the debt, European capital flooded to these countries and the countries were almost colonized. The Ottoman Empire also had to borrow foreign debt due to the burden of the Crimean War in 1854. The debt burden increased rapidly as the borrowed debts were not used efficiently. During this period, European capital also started railway investments in Ottoman lands. The foreign debt adventure of the empire ended in financial bankruptcy in 1876. The Ottoman Public Debt Administration was established to pay debts. This organization controlled some of the state revenues. Thus, European capital that increased their investments, the Ottoman Public Debts Administration and capitulations put an end to the economic independence of the Ottoman Empire in a short time. The Ottoman Public Debt Administration and capitulations removed with Treaty of Lausanne that signed after the National Struggle and thus achieved full of independence of the Republic of Turkey. However, the debt issue continued to be a problem until 1928. With the treaty signed on this date, debt payments started and continued until 1954.

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