American Journal of Technology and Applied Sciences ISSN (E): 2832-1766| Volume 13, | June, 2023 P a g e | 1 www.americanjournal.org THE DEVELOPMENT OF THE ECONOMY AND MONEY CIRCULATION IN THE EMIRATE OF BUKHARA DURING THE PERIOD OF THE MANGYTS Zamonov Akbar Turg‘unovich Doctor of Philosophy in History (PhD), Associate Professor of NUU Hakimova Xandona Oybek qizi In 3rd Grade Student of the National University of Uzbekistan A B S T R A C T K E Y W O R D S this article discusses the basics and functions of the activities of the Bukhara branch of Russian commercial banks in the emirate of Bukhara. In Soviet historiography, banks were understood as a means of Western and Russian "colonialism". The author, based on archival data, proves that the financial institutions of the Russian empire, unlike Soviet and post-Soviet researchers, believe that banks were not "monopolists" in the economy of Central Asia. The largest bank in the region (12 branches) with an extensive network of branches throughout Central Asia is the Russo-Asian commercial bank (Russian Chinese bank until 1910). It should be noted that the Russian-Asian bank sought to take control of cotton and industrial production. But in the end it could not become a locomotive of the economic development of the region. The author believes that the main reason is to adapt to the existing economic relations in the governorates and khanates of Turkestan. In understanding banks, the "modernization" of the economy of Central Asia consisted of financing export crops and mediation between the metropolis and the periphery. The periphery of the "colony" at first glance seemed to be an attractive area for investment and excessive profit, but the speculative nature of the Turkestan economy prevented the normal development of banks. As a result, the economic "modernization" of Central Asia slowed down and paved the way for the Soviet experience. banks, commerce, branch, monopoly, financing, economic modernization, "colonialism". American Journal of Technology and Applied Sciences Volume 13, June, 2023 P a g e | 2 www.americanjournal.org Introduction The economic situation of the emirate of Bukhara at the beginning of the XIX-XX centuries is characterized by the dominance of feudal, medieval relations in it, terrible backwardness, the old state of industry and primitive forms of agricultural production. Agriculture took a dominant position in the national economy. At the end of the 19th century, the emirate of Bukhara conducted trade relations with Russia, Afghanistan, India, Iran and the Caucasus. Trade representative offices and warehouses of Russian firms were located in Bukhara, Chordzhoy, Karki, Termez and Kogon (New Bukhara). Trade turnover between Russia and the Emirate of Bukhara increased from year to year1. The agreement with Russia in 1868 radically changed the fate of the emirate of Bukhara, deprived it of independence and made it a protectorate of the Russian Empire. Although the Emir of Bukhara lost his foreign political independence, he retained unlimited power over his subjects. To directly control the political activities of the Emir of Bukhara, the "imperial political agency of Russia" (1888-1917) was established under the decree of the Russian emperor of 1885, which in fact controlled compliance with the terms of the Treaty of 1868 and the political activities of the Emir. At the end of the XIX century, the territory of the Bukhara emirate was significantly reduced in connection with the inclusion of parts of it into the Russian Empire. The emirate had a population of about 2 million, and their main occupation was handicrafts, agriculture and livestock. In addition to the capital of Bukhara, cities such as Chorjou, Kitab, Shahrisabz, Denov were considered major trade and craft centers. The territory of the emirate of Bukhara was extremely favorable for high-income transit trade. All trade routes between Russia and Afghanistan passed through the territory of the Emirate of Bukhara. Russia sent large batches of gauze, porcelain, velvet, porcelain, matches and kerosene to Afghanistan through Bukhara. In 1887, the first railway was laid through the emirate area. Construction of a new Bukhara station began 15 km from Bukhara. The Emir's Palace and the residence of the Russian political agency were also erected here. Now the emirate of Bukhara was connected by rail with Tashkent, Orenburg and Moscow. By 1888, the first Russian villages began to appear in the emirate of Bukhara. A branch building of the State Bank of Russia was opened in Bukhara. Accordingly, two cotton ginning plants were put into operation, two hotels of a European pattern were built. Qushbegi's house was now connected to the residence of the Russian political agency by the first telephone connection2. And now we bring a few words of information about the circulation of money in the emirate of Bukhara during the period under study. The coins of the last two rulers of Bukhara (Abd al-Ahad and Olimkhan) are still the least studied, and information about them is practically absent in Numismatic literature. The most valuable is the “Historia-I Salimiy” manuscript compiled by Mirzo Salim bey, who held high public offices during the last emirate. It contains a number of interesting facts about the monetary circulation of the Khanate. Regarding the money used in the Bukharan Khanate at the end of the 18th century, Philip Efremov noted: “there are a lot of Dutch chervonets in Bukhara, but both they and other coins and castings were converted to Bukhara. They only make tattoos on Bukhara, and then from Khan; usually on one side of the coin his name is depicted, and on the other side a number of words from Algoron. In Bukhara, money is in circulation in copper, silver and gold, but more in the latter; a copper small coin of our kind of pennies, called a carapul; Silver tenga equal to 10 carapules, it has 1 Васюков А.И., Горшков В.В., Колесников В.И. Бумажные денежные знаки России и СССР. СПб: Политехника, 1993. 215 с. 2 Давидович Е.А. О мерах веса позднесредневековой Бухары. Душанбе, 1960. Стр. 113. American Journal of Technology and Applied Sciences Volume 13, June, 2023 P a g e | 3 www.americanjournal.org about half of the copper; gold, ashrafi or Gold, 30 coins have the Bukhara gold coin. In Bukhara, the word money was expressed through arrows, copper - copper, silver - nokra, tilla - altun. The money of the emirate of Bukhara was hand-printed from wood and copper stamps. All signs of the emirate of Bukhara have Tajik scrolls with Arabic letters3. The period 1903-04-1904-05 was a turning point in the monetary circulation of the emirate of Bukhara. The minting of silver coins is completely stopped, and at the same time the minting of copper coins on a regular basis is restored. When the release of a coin is mainly due to the release of one copper, a huge burden falls on the other, both in circulation and in the field of financial exploitation. The imperial government attempted to replace Silver with copper, resulting in new denominations. In the conditions of rising prices and prices, the beginning of the collapse of the monetary system as a result of the war in Russia, the next stage of the crisis period of the monetary economy of Bukhara was marked by the issuance of copper coins in denominations of 4 and 8 fulus. Mirza-Salimbek mentions these coins: "after that, new Ulus were issued again, and each of them excluded 4 fukus, and they too soon separated. After consultation, they again made an octagon of pure copper..."4. The disruption of Russian finances caused by the war also affected Bukhara. Interestingly, in September 1917, when the circulation of any silver coin in the entire empire stopped for a long time, the Tashkent branch of the State Bank sent to Bukhara in response to the strict requirements of the Provisional Government Turkkomitet, along with credit tickets and treasury marks of silver exchanged from its reserves for 200 thousand rubles. The logical conclusion of the crisis was the minting of copper coins. Mirza Salim-bek gives the following information about minting these coins: "the noble ones, knowing the needs of the people, changed the copper fuluses of 1335, the year of the snake, to tengi, so that the ratio of copper miscal is 1 tenga, 1 Miskal - 2 tenga, 1 1 1/2 Miskal - 3 tenga; 2 miskala-4 tengam and 2 1/2 Miskal mis - 5 tengam". However, among the copper coins considered, we did not meet 4 monetary denominations. Perhaps this nominal was not available in Bukhara. In fact, in 1917-1919, Amir Olimkhan began minting copper coins, which received the famous name "kara-tenga". The series consisted of seven coins in denominations of 1/2, 1, 2, 3, 5, 10 and 20 teneg. They are characterized by the absence of a date on the front. The 1/2, 1, 2, 3, 5 coins are minted in red copper and have the words "fulus" on the obverse. On the back side of them is the mark of the place of minting - "Minted in Bukhara" and the date. The 10-piece coin has a more complex pattern and, unlike previous denominations, is struck in a wide thin brass cup. Towards the end of the reign of the last emir of Bukhara, Said Alimkhan, the first paper money called "tanga" similar to the silver coins in Central Asia were put into circulation. Money is printed by hand, putting stamps on the paper. Banknotes in denominations of 20, 50, 100, 300, 500, 1000, 2000, 5000, 10000 were put into circulation. In 1920, the Bukhara People's Soviet Republic was declared5. The republican government continued to issue banknotes, but they were no longer denominated in rubles. The currency of Bukhara during this period was very diverse. In addition to the Bukhara ruble, there 3 Курбанов Г.Н. «К истории бумажных денег Бухары начала XX в.». [Электронный ресурс]. Режим доступа: bonistikaweb.ru. 4 Чориева М.А. Историография жизни и политической деятельности последнего мангытского эмира Сейида Алимхана. Наука, техника и образование, 2018. C. 12. 5 Юровский Л.Н. «Денежная политика Советской власти 1917—1927». [Электронный ресурс]. Режим доступа:bonistikaweb.ru/. American Journal of Technology and Applied Sciences Volume 13, June, 2023 P a g e | 4 www.americanjournal.org were various paper and metal coins in circulation. The silver Bukhara coinage also continued to be used. Even after two monetary reforms (1923 - unification of monetary circulation, when the currency of the republics of Bukhara and Khorezm was the RSFSR ruble, 1924 - the introduction of the Soviet chervonet), in 1925 the coin was still accepted by the financial institutions of Uzbekistan for paying taxes. References 1. Cuhaj G., Michael T., Miller H. Standard Catalog of World Coins 1901-2000. 39-е изд. Iola: Krause Publications. 2011. 2345 с 2. Васюков А.И., Горшков В.В., Колесников В.И. Бумажные денежные знаки России и СССР. СПб: Политехника, 1993. 215 с. 3. Давидович Е.А. О мерах веса позднесредневековой Бухары. Душанбе, 1960. Стр. 113. 4. Курбанов Г.Н. «К истории бумажных денег Бухары начала XX в.». [Электронный ресурс]. Режим доступа:bonistikaweb.ru/ 5. Чориева М.А. Историография жизни и политической деятельности последнего мангытского эмира Сейида Алимхана. Наука, техника и образование, 2018. 6. Эпиграфика Востока, 1967, 18 выпуск. Бурнашева Р. "Монеты Бухарского ханства при Мангытах (середина 18- начало 20 в.). 7. Юровский Л.Н. «Денежная политика Советской власти 1917—1927». [Электронный ресурс]. Режим доступа:bonistikaweb.ru/.