practices at the Ottoman Mint are explored in detail here
by Chemist Alemdarzade Hakkı.//
Hakkı Halid Bey corrupted this regularized procedure by purposely
holding the production adjustment of that time at the lower tolerance.
This malfeasance served to fill up Hakkı Bey's pockets and even
though the government did not materially lose anything, this action put
the government's honor and reputation in danger, causing great damage.
With regard to material loss for the government, though, Hakkı Bey's
profit came at the expense of the nation. Hakkı Bey has admitted that
he kept the adjustment low and claims that, at that time, this action
minimized losses, adding that "I processed coins at the lower tolerance,
taking advantage of my production flexibility, in order to protect the
government from losses."
But does this man, who supposedly had a scientific education, expect
us to believe that this procedure, which was created to enrich the
influential officers of the mint, hasn't existed for a long time? Because
it is scientifically certain that gold melts at a temperature a bit less
than 1200 degrees and does not become volatile even at a temperature
of 2400 degrees. Consequently, a non-volatile substance remains, either
in the crucible or as ash, with no loss.
Ultimately, the bulk of this remaining amount of ash is affirmed, with
the stipulation that the amount not exceed one quarter per thousand.
To those who, faced with this reality, say that "I just did what those who
came before me did", we respond that such a lame excuse is
unacceptable.
Notwithstanding this, though, the government imported material with
this loss in mind vis-a-vis the cost in financial expenditures, making
the statement: "the general cost and loss to the government is 100 kuruş
for a two-drachma gold coin with a weight of 4 carats and a standard
purity of 916.66." (see the coins section of the annual report.)
Our versitile director Hakkı Bey used this scientific information for the
weighing process but, by siphoning off a benefit share for the government
in this process, he succeeded in having his embezzlement acclaimed.
Here's how:
Even though the government is bound to adhere to a plus or minus
tolerance of two-per-thousand, for the reasons explained above, this
cannot be done with the intent to derive some sort of advantage. There
is a stipulation that all coins must be weighed based on the mid-point
of the weighing criteria.
Yet, during his five years as mint director - in the despotic period and
for the tumultuous past year of 'Meşrutiyet' - Hakkı Bey continued to
have decorative and normal gold minted at the lower tolerance, and
sometimes even below that tolerance. To keep everyone fooled, he
showed this to the government as revenue and transferred another
significant portion to Crédit Lyonaiss coffers.
However, since it was possible that the banks would check and discover
these low-weighing and low-adjustment practices, the cunning director
made use of the differing weights of the bags and pouches the gold was
put into, and even the oil used in the machines, for his own purposes.
Actually, in his early years, because of his lack of experience, cadre and
overconfidence there was an excess of mint exports over imports of
about one per one thousand, owing to Hakkı Bey's disregard for the
rules of prudence. As a result, this situation caused him difficulties and
he had to concoct records based on the different weights of the bags and
pouches. Hakkı Bey was surely chagrined by the profits he missed out
on then. (Over time, the Finance Ministry exercised control over gold
treatments and this proved to be Hakkı Bey's undoing.)
//END of PART III//
weighing process but, by siphoning off a benefit share for the government
in this process, he succeeded in having his embezzlement acclaimed.
Here's how:
Even though the government is bound to adhere to a plus or minus
tolerance of two-per-thousand, for the reasons explained above, this
cannot be done with the intent to derive some sort of advantage. There
is a stipulation that all coins must be weighed based on the mid-point
of the weighing criteria.
Yet, during his five years as mint director - in the despotic period and
for the tumultuous past year of 'Meşrutiyet' - Hakkı Bey continued to
have decorative and normal gold minted at the lower tolerance, and
sometimes even below that tolerance. To keep everyone fooled, he
showed this to the government as revenue and transferred another
significant portion to Crédit Lyonaiss coffers.
However, since it was possible that the banks would check and discover
these low-weighing and low-adjustment practices, the cunning director
made use of the differing weights of the bags and pouches the gold was
put into, and even the oil used in the machines, for his own purposes.
Actually, in his early years, because of his lack of experience, cadre and
overconfidence there was an excess of mint exports over imports of
about one per one thousand, owing to Hakkı Bey's disregard for the
rules of prudence. As a result, this situation caused him difficulties and
he had to concoct records based on the different weights of the bags and
pouches. Hakkı Bey was surely chagrined by the profits he missed out
on then. (Over time, the Finance Ministry exercised control over gold
treatments and this proved to be Hakkı Bey's undoing.)
//END of PART III//
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