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Money for the Turkish War

In: At Spes non Fracta

Author

Listed:
  • Marten Gerbertus Buist

    (Rijksuniversiteit te Groningen)

Abstract

The accession to the throne of Empress Catherine II of Russia in 1762 heralded a resumption of the vigorous territorial expansion which had been set in train during the reign of Czar Peter the Great. The finances of the economically underdeveloped country, however, were inadequate for the waging of lengthy wars, and when, in 1768, Russian intervention in the chaotic domestic situation in Poland led to a conflict with Turkey, the empress found herself in an extremely embarrassing position. The issue of paper money in the form of assignats, for which purpose the Assignat Bank was founded in 1768, afforded a certain respite.1 In addition, Catherine succeeded during the Turkish War in obtaining a number of loans in the Republic of the Seven United Provinces through the intermediacy of the house of Raymond and Theodore de Smeth of Amsterdam. These loans carried interest at 5 %.2

Suggested Citation

  • Marten Gerbertus Buist, 1974. "Money for the Turkish War," Springer Books, in: At Spes non Fracta, chapter 0, pages 93-110, Springer.
    • Handle: RePEc:spr:sprchp:978-94-011-8858-6_3
    DOI: 10.1007/978-94-011-8858-6_3
    as

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