The Economy of
Algiers
For your trip into Algiers, you should know about the economy and monetary system in order to plan your stay, spend your money carefully, and buy souvenirs to take home!
In General
The economy of Algiers is linked to its status as a pirate stronghold. As the headquarters for the Barbary pirates, Algiers operated on plundering the European merchant ships with its powerful navy, "the terror of the European trading fleets" (Kühnel, 169). The economy thrived on selling stolen goods, collecting ransoms on captives, and selling European traders safety from the piracy (Hourani, 230 ; "North Africa" Britannica Online). The profits were shared between the merchants, naval captains, and the deys, whose linked interest in piracy also bound them together politically (Hourani, 230). "Honest commerce" was also a source of economic gain, though not as prominent as piracy (Cooley, 19).
As the Ottoman empire declined, new provincial governments were set up (see "Government") which encouraged cooperation among the "urban elite" in many Ottoman provinces. This cooperation made agricultural production and trade more important, and the production of hides and grain grew to be staples of the economy of Algiers, exported to Marseille and Livorno (Hourani, 252). Agriculture grew in importance as piracy and commerce declined in the 1700s.
Life in Ottoman societies, including the society of Algiers, was governed in part by powerful guilds. Guilds were organized for each profession and determined its standards, procedures, customs, policies, and prices. Because members were drawn from different religions, ranks, classes, etc., all working together for common economic needs and interests, the guilds remained strong even during the years of the empire's decline ("Hungary and Ancient Anatolia" Britannica Online).
Monetary System
As a part of the Ottoman empire, the official system of money used in
Algiers was a system of coinage, the Ottoman system of the "Akce"
coin. The Akce coin was made up of silver and copper and signed on the back
by the reigning sultan, but, as the sultan needed more money, he would re-melt
the Akce coins to put in less silver so as to have the silver for his own
expenses. (In Istanbul, this contributed to turmoil and revolt against the
sultan). Areas outside of Istanbul did not always use the Akce system, but
it was the official monetary system used to pay government wages and in
official records and accounts. ("Acke and Money System")
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