Asim Possess a Fleet of Over 700 Long-Distance Trading Vessels, Venturing All Over the Gulf As Well As in India and East Africa
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Timeline / Before 1800 to After 1930 / ECONOMY AND TRADE Date Country Theme Early 1800s United Arab Emirates (Sharjah) Economy And Trade The Qawasim possess a fleet of over 700 long-distance trading vessels, venturing all over the Gulf as well as in India and East Africa. Around 1805 United Arab Emirates (Sharjah) Economy And Trade The Qawasim demand tribute from the British East India Company in exchange for navigational rights in the Gulf; the British then begin military interventions aimed at destroying the economic hegemony of the Qawasim in the Lower Gulf region. 1810 - 1830 Tunisia Economy And Trade Situated at the confluence of the seas of the Mediterranean, Tunis is seen as a great commercial city that many of her neighbours fear. Food and luxury goods are in abundance and considerable fortunes are created through international trade and the trade-race at sea. 1815 - 1859 Italy Economy And Trade Italy is an agricultural country. Political fragmentation is an obstacle to trade and economic development. The different states use not only different currencies, but also different systems of measurement. 1815 - 1848 France Economy And Trade The development of transport networks: the creation of railway lines from 1832, expansion of the road network and construction of a large number of canals. 1815 - 1848 France Economy And Trade The pace of industrialisation picks up significantly: millions of tons of coal and iron are produced and production in the textile industry is enhanced by the Jacquard loom. 1816 - 1830 France Economy And Trade The rise of the Stock Exchange in Paris, the financial capital of Europe. 1820 - 1870 France Economy And Trade An exponential growth in agriculture sees increased land cultivation, mechanisation and expansion of crops grown for fodder. After 1820 United Arab Emirates (Sharjah) Economy And Trade Pearling becomes the major industry of the Qawasim and other sheikhdoms of the Arab littoral of the Gulf; exports provide the most important revenues. 1820s - 1850s Italy Economy And Trade Date Country Theme Industrialisation begins at a slower pace compared with other Western European countries. It concentrates in Northern Italy (Piedmont, Lombardy) and in the Kingdom of Two Sicilies. Silk production is the strongest industrial sector. 1821 Austria Economy And Trade In Trieste, Josef Ressel equips the steamship Civetta with a ship’s propeller for the first time. 1829 Romania Economy And Trade 14 September: the Treaty of Edirne annuls the Ottoman monopoly on Wallachia and Moldavia’s commerce. 1829 United Kingdom Economy And Trade The Treaty of Adrianople, following a Russian-Turkish war, opens up the Black Sea to international trade. Trebizond becomes a major port for Persia and India. Constantinople, Smyrna (Izmir) and Aleppo, which have been major international trading communities for many centuries now, flourish with the expansion of steam power. 1829 Spain Economy And Trade The Banco Español de San Fernando absorbs the highly indebted Banco Nacional de San Carlos, founded in 1782, thus becoming in fact the first Spanish bank. The bank continues as such until 1856, when it becomes Banco de España, the central Bank of Spain. 1830 - 1840 Germany Economy And Trade Industrialisation and the Industrial Revolution. 1831 Spain Economy And Trade Foundation of the Madrid stock exchange (Bolsa de Madrid), driven by the state's need to raise funds to cover, among other things, debts arising from the Carlist wars. 1832 Spain Economy And Trade Mechanisation of the textile industry in Catalonia with the introduction of steam- powered machines. Progress in the textile industry continues in Catalonia until the 1920 crisis. 1832 Portugal Economy And Trade Statesman and jurist José Mouzinho da Silveira (1780–1851) abolishes old taxes over real estate income, privileges and immunities detrimental to the kingdom’s economy. He creates the Tribunal do Tesouro Público for tax collection and Treasury administration. He defines the powers of the Minister of Finance and regulates Customs administration, among other reforms. Date Country Theme 1833 - 1835 Portugal Economy And Trade 18 September: The first Commercial Code by jurist José Ferreira Borges grants free trade and distribution of goods, abolishing monopolies, privileges and real estate transfer taxes. Article 2 defines a commercial act and the nature of intervening actors. 1834 Egypt Economy And Trade A Khedival Decree promulgates the issue of an Egyptian currency consisting of a bi-metallic base of gold and silver. The Egyptian pound, known as the geneih is introduced, which replaces the Egyptian piastre (ersh) as the main unit of currency. 1836 - 1842 Portugal Economy And Trade Under the framework of liberal Setembrismo, which seeks to fight against corruption and the privileges of the elite, an industrialisation process is promoted and protectionist customs taxes are adopted. One of the main reasons is to reduce the import of English products. The colonisation of African possessions is also developed. 1837 Spain Economy And Trade The feudal system had been abolished under the Cádiz Constitution of 1812 but not completely enacted until 1837. 1837 - 1844 Spain Economy And Trade First state confiscation and sale of Church properties known, after the minister who developed the law, as Desamortización de Mendizábal (Mendizábal's Disentailment) to fund the Carlist war. 1840 Romania Economy And Trade Austrian engineers Karol and Rafael Hoffmann and Carol Maderspach initiate the extraction of coal in the Jiu Valley (south Transylvania), which was and still is the main coal-mining region of Romania. 1841 Lebanon Economy And Trade Teams of spinners are brought from France to train young women. This was a real social revolution in this rural and traditional part of the country. According to G. Ducousso’s book The Silk Industry in Syria and Lebanon (1912), the French Consul in Beirut counted no fewer than 183 spinning mills in Lebanon. 1841 Greece Economy And Trade The National Bank of Greece is founded. 1841 United Kingdom Economy And Trade The Ottoman Bank is founded in this year, registered in London, to channel overseas investment in the Ottoman Empire. Date Country Theme 1843 Turkey Economy And Trade The first successful attempt to open a modern bank in the Empire. Smyrna Bank is established by foreign merchants (English, French, Austrian, Dutch, Russian, American, Italian, Danish, Spanish and Greek) under the Swedish Consulate in Izmir in order to diminish their dependence on other merchants and bankers. It is closed in the same year for operating without permission. 1844 - 1846 Spain Economy And Trade British interests in raw material – iron and coal – lead to the foundation of the iron and steel industry in Bilbao and Santander and industrial exploitation of the coal mines in Asturias. 1844 Portugal Economy And Trade Foundation of the National Tobacco Company in Xabregas, Lisbon. Following the 18th-century tendency, the profits of tobacco manufacturing and trade became the major source of revenue for oligarchic businessmen (known as the Caixas) seeking its control. The monopoly was rented out by the state, usually on a triennial base. 1844 Turkey Economy And Trade Monetary reform. Ottomans accept bimetallism. Lira, mecidiye and kuru# become official units. 100 kuru# are equal to one Ottoman lira. Silver mecidiyes equal to 20 kuru# are issued. 1846 Romania Economy And Trade The rulers of Moldavia and Wallachia, Mihail Sturdza and Gheorghe Bibescu, sign a convention that stipulates the abolishment of the customs between the two countries. The convention becomes effective in January 1847. 1846 Portugal Economy And Trade Merger of Banco de Lisboa and the investment company Companhia Confiança Nacional (1844–46) creating Banco de Portugal, which by 1887 shares the right to issue banknotes with other institutions. By 1891, Banco de Portugal becomes the sole issuer of bank notes for the mainland, the Azores and Madeira. 1849 Portugal Economy And Trade The Tribunal de Contas (Supreme Audit Institution), the independent financial control department, is separated from the financial administration. The public accounts are verified by the Tribunal de Contas and approved by Parliament. 1850 - 1860 France Economy And Trade Foundation of numerous banks: the Crédit Industriel et Commercial (1859), the Credit Lyonnais (1863) and the Société générale (1864). 1850 - 1900 Austria Economy And Trade Date Country Theme The majority of fezzes worn as modern headgear in the Ottoman Empire during the second half of the 19th century are produced in the Austrian Empire. 1851 Portugal Economy And Trade Launch of an ambitious plan of modernisation and the stable Regeneration period mostly led by Minister Fontes Pereira de Melo (1819–87) (and named Fontism after him) Infrastructure building, industrial production and business laws are promoted. Porto wine production and trade thrives and exports increase until the 1860s. 1853 - 1890 Lebanon Economy And Trade Antun Bey Najjar, a merchant who made his fortune in Constantinople, builds Khan Antun Bey in 1853. It becomes a great business center and the building served for many institutions such as Beirut’s foreign consulates, the Ottoman administration, postal services, merchants’ offices and Beirut’s first bank, Imperial Ottoman. 1853 Germany Economy And Trade Levi Strauss & Co founds the first company to manufacture blue jeans. 1854 Turkey Economy And Trade Ottoman Empire obtains its first foreign loan. 1855 - 1867 Spain Economy And Trade The Madoz law introduced in 1855 provides for the state confiscation and sale of the rest of the Church properties and also of municipal properties. 1856 Romania Economy And Trade The internationalisation of the Danube through the Treaty of Paris has a positive influence on the development of Romanian commerce. 1856 Turkey Economy And Trade The Ottoman Bank is established by English capitalists with capital of #500,000 (equivalent to about US$52 million in 2007). Established on a small scale, the bank becomes an imperial bank by 1863. 1857 Romania Economy And Trade March: the first oil refinery in Romania is built by Teodor Mehedin#eanu at Râfov, Prahova.