CAPITAL OUTFLOW TO THE OTTOMAN EMPIRE IN THE ERA OF IMPERIALISM: CONSESSIONS OF CHROME MINING

Chrome mine, which is used in the steel industry, was discovered in the second half of the nineteenth century, at the same time during this period, the Ottoman Empire became an open market for foreign capital. In the era of imperialism, capitalist financial fund that took control of Ottoman finance in exchange for non-performing loans was also swift set hands to the mining industry. With the abundance of chrome mines in Hdigar and Aydin provinces, the competition for concession over this mine also began. Conse-quently, Ottoman chrome could not be used within the empire with its own capital components and the mines came under the financial domination of the imperial states through capital outflow. In this rivalry, the Paterson's obtained enough privileges to monopolize the sector with the political and economic pressure of the British Government, while the strongest rival that they have encountered was Ragip Bey, an Otto-man subject. In this study, we will first develop a conceptual framework on the subject and then test this framework in the case of the chrome mine in Ottoman West-Anatolia. Before the First World War, we will analyze the insights of the com-petition that was developed in the struggle for chrome mining privileges in Aydin and Hdigar provinces, in the rivalry of Whittall, Mac Andrews and Forbes, Paterson and Ragip Bey, which was resulted in the victory of the Paterson and Britain.