, the Ottoman public debt, more particularly the debt administration set up in 1881. The Ottoman government had made its first attempts to raise money by internal loans in ¶ the late 18th and early 19th centuries (see ashām and ḳāʾime ). The needs and opportunities of the Crimean War brought a new type of loan, floated on the money markets of Europe. The first such foreign loan was raised in London in 1854, the second in the following year. They were for £ 3,000,000 at 6% and £ 5,000,000 at 4% respectively. Between 1854 and 1874 foreig…