Dolmabahçe Palace was ordered by the Empires 31st Sultan, Abdülmecid I, and built between the years 1843 and 1856. Previously, the Sultan and his family had lived at the Topkapı Palace, but as the medieval Topkapı was lacking in contemporary style, luxury, and comfort, as compared to the palaces of the European monarchs, Abdülmecid decided to build a new modern palace near the site of the former Beşiktaş Palace, which was demolished. Hacı Said Ağa was responsible for the construction works, while the project was realized by architects Garabet Balyan, his son Nigoğayos Balyan and Evanis Kalfa (members of the Balyan family of Ottoman court architects). The construction cost five million Ottoman mecidiye gold coins, 35 tonnes of gold, the equivalent of ca. $1.5 billion in todays (2013) values.[3][4] This sum corresponded to approximately a quarter of the yearly tax revenue. Actually, the construction was financed through debasement, by massive issue of paper money as well as by foreign loans. The huge expenses placed an enormous burden on the state purse and contributed to the deteriorating financial situation of the Ottoman Empire which eventually slid into state bankruptcy with the subsequent establishment of financial control over the sick man of Europe by European powers.
Posted on: Thu, 11 Sep 2014 16:25:53 +0000
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