Evolution of The Monetary Policy in The Khiva Khanate (Mid-19th Century to Early 20th Century as An Example)

Аннотация

This article explores the consequences of the Russian empire's economic colonial policies in the Khiva khanate during the second half of the 19th century and the early 20th century, focusing on the participation of financial institutions in monetary relations, changes in the monetary system, and the reforms carried out by the local government. The analysis is based on national sources and documents from the National Archive of Uzbekistan. Keywords: Economy, colonialism, coin, ruble, kerenka, sovznak, Turkbon, penzenka. conveniences for the population and, consequently, Introduction: The economy is considered one of the fostering the emergence of traders and industrialists. It key components of both state and societal life, and the is difficult to fully agree with many of these viewpoints. study of its issues holds significant importance. For example, Russian researcher R. Yu. Pochekaev, in Specifically, conducting a comprehensive scientific his studies analyzing the legal aspects of relations analysis of the economic history of the late 19th and between the Russian empire and Central Asian states early 20th centuries is one of the pressing tasks. This from the early 18th century to 1917, concludes the article provides a thorough examination of the financial following regarding the financial measures and policies implemented in the Turkestan region during monetary relations employed by the imperial the Russian empire's colonial period, including the government in the emirate of Bukhara and the Khiva Turkestan general governorship (prior to the khanate: “The conquest of the financially powerful establishment of the Turkestan ASSR on April 30, 1918), Khanates of Bukhara and Khiva in Central Asia and the the Emirate of Bukhara, and the Khiva khanate (until strengthening of control through the customs system is 1920). It highlights the effects, results, and a historical result. However, these two states had to consequences of these policies on the region's completely abandon their own national coins, with the economy, based on both Russian and local sources. ruble becoming the main currency in circulation. The During the period of the Russian empire’s colonial rule, reason why these reforms were not fully implemented numerous sources shed light on the financial system of by 1917 is not due to the imperial government’s failure the Turkestan region and its condition. However, the to consider the national and regional characteristics of majority of the opinions and considerations put forth in these territories. Rather, as emphasized by R. Yu. historical (A. Gurtovenko, 1955), economic (A. Aminov, Pochekaev (2020), it was because the imperial 1959), and legal studies (T. Krasilnikova, 2001), which government was reluctant to take more active steps in have introduced these sources into academic reforming monetary relations, taking into account the discourse, interpret the economic life and changes in stance of the authorities in Bukhara and Khiva on this the financial and banking system in ways that suggest issue”. these developments served as a driving force for the METHODS region's growth. They also argue that new forms of trade relations were established, creating This article analyzes the emergence of commercial American Journal Of Social Sciences And Humanity Research 188 https://theusajournals.com/index.php/ajsshr American Journal Of Social Sciences And Humanity Research (ISSN: 2771-2141) issues from the perspective of modernist thought at the Kokand, Bukhara, and Khiva and the Russian ruble. In close of the 19th century and the dawn of the 20th Bukhara and Khiva, the monetary system was officially century, employing a comparative historical approach. based on gold, silver, and copper coins, while in the Kokand Khanate, silver and copper coins were The economic issues of the period under investigation, predominantly in circulation for daily use (such as for along with the deficiencies encountered in various trade and various collections). In major commercial spheres of social and cultural life, were critically transactions, such as land sales and large-scale examined in national press publications. These commodity exchanges, silver and gold coins were used. discussions addressed matters related to economic and With the dissolution of the Kokand khanate, the social development. In particular, the newspapers of Russian ruble began to dominate in the Fergana valley. the progressive intellectuals of Turkestan, including Uluğ Turkiston, Sadoyi Turkiston, Sadoyi Fergana, The second phase of the monetary system's Tarjimon, and Kengash, as well as the journal Oyina, development in Turkestan was marked by Russia's alongside official Russian publications such as policy of consolidating control through the unification Turkestanskie Vedomosti, Turkiston Viloyati Gazeti, of the monetary system. This period represents a and Tujjor, highlighted the factors contributing to the crucial stage in the history of the interactions b