In 1299 the Ottoman Empire began as one of many small Turkish states that began in Asia Minor during the decline of the empire of the Seljuk Turks. The economy of the Ottoman Empire was centered around trade. Istanbul was the crossroads of trade between the East and West. Carabans and ships carried silk, tea, spices, and porcelain from the Black Sea. Southern Russia came with furs, rain, and amber. And from Europe came mirrors and drugs. The government had a lot of supervision in commerce and imposed many regulations as well as a tax on almost every transportation. Merchants and sea captains required licensese to operate. The Government was notified whenever there was a change in a business whether it be someone getting fired or someone getting a raise. The markets were patrolled by Kadi meaning judge and had the power to order punishment on the spot for violations. Profit was limited to 10% for all business and the governement secured the trade routes in order to insure safe travel of goods. Although the government was strict they promoted fair trade and made foreign trade very strict. They did this in order to keep the necessities for the empire in the state. In 1534 the French were the first Europeans to be allowed trade rights with the Ottomans. The English soon followed in 1567 and in 1587 …show more content…
Under these rulers the Ottoman Empire aquired the Byzantine Empire, Bulgaria, and Serbia. Bursa fell to the Ottomans in 1326 and Adrianople fell in 1361; each became the capital of the empire. The Ottoman victories at Kosovo in 1389 and Nikopol in 1396 placed large parts of the Balkan Peninsula under Ottoman rule and proved that the Ottomans were a dangerous force to the other European states. The Ottoman 's conquering of Constantinople was ended once Timur took the city in 1402. Timur 's control over Constantinople was short lived when the Ottomans took it