Financial Structure and Development of the Waqf of Muraddiye in Edirne (1598-1647)

Abstract

The present study looks at the financial history of the waqf of Muradiye in Edirne, one of the largest waqfs in the Balkans, in the first half of the 17th century. In some years, the harvest in the waqf villages was bad and grain prices went up due mainly to local natural disasters. However, the waqf did not go through a period of financial crisis to the extent which disturbed its regular functioning and ceased its charitable activities and services. Short-term financial difficulties that might last more than a financial year resulted from harvest failures and even shorter ones resulted from uneven cash flow due to the temporal imbalance between collection of rural incomes and regular expenditures. Financial distresses were relieved and cash flow smoothed out through receiving in advance payment for tax-farming, purchase on credit, borrowing and delaying salary and stipend payments.