Debasement the intrinsic value of the coinage and so more coins can be made with the same quantity of precious metal. If done too frequently, debasement may lead to a new coin being adopted as a standard currency, as when the Ottoman Akçe was replaced by the kuruş (1 kuru = 120 akçe), with the para (1/40 kuruş) as a subunit. The kuruş in turn later became a subdivision of the lira. Debasement Debasement is the practice of lowering the value of currency. It is particularly used in connection with commodity money such as gold or silver coins. A coin is
Social class in the Ottoman Empire Social class in the Ottoman Empire There is considerable controversy regarding social status in the Ottoman Empire. Social scientists have developed class models on the socio-economic stratification of Ottoman society which feature more or less congruent theories. We see the Ottoman Empire being described as a bureaucratic state, holding different regions within a single administrative and fiscal system. The Ottoman Empire lasted for over six hundred years (1299–1923) and encompassed what is modern-day Turkey, the Balkans and the Fertile Crescent. Thus the Ottoman Empire would be home to an extremely diverse population ranging from the Muslim majority to the minority