Mubarak Al-Sabah Anglo-Kuwaiti Treaty with Great Britain on November 23, 1899, pledging himself and his successors not to receive foreign agents or representatives or to cede or sell territory without the approval of the British government, with this agreement, and the guarantee it represented in Kuwait and the Al-Sabah family, he is regarded as the founder of modern-day Kuwait. German explorer, Hermann Burchardt, photographed Sheikh Mubarak in 1903, in what is now an iconic photograph. Mubarak was born into Kuwaiti's powerful al-Sabah family in 1837 son of Sheikh Sabah II Al-Sabah (r. 1859-1866). Once he was older Mubarak served primarily as the
Historiography of the fall of the Ottoman Empire in the Balkans hastened the slide into bankruptcy. After negotiations with the European powers, the Public Debt Administration was set up, to which certain revenues were assigned. This arrangement subjected the Ottomans to foreign financial control from which they failed to free themselves, in part because of continued borrowing. In 1914, the Ottoman debt stood at 139.1 million Turkish pounds, and the government was still dependent on European financiers Why had the Ottomans not developed their own financial system in line with London and Paris? It was not for the want of trying. Since the beginning of the 18th century,