International Repercussions of the Capital Levy: An Analysis Through Allied Press and American Diplomatic Correspondence

Authors : Murat Özata

Pages : 1333-1360

Doi:10.18244/cttad.1686008

View : 38 | Download : 83

Publication Date : 2025-12-30

Article Type : Research Paper

Abstract :The Second World War, which spread across Europe in the autumn of 1939, deeply affected not only Turkey’s foreign policy but also its economic structure. Although Turkey did not participate in the war militarily, it faced both the direct and indirect economic consequences of the conflict. In this context, the Capital Levy Law, enacted in 1942, was introduced as an extraordinary financial measure to meet the state\\\'s increasing fiscal needs, control inflation by reducing the money supply, and address public discontent by taxing speculative wartime profits. This study examines how the Capital Levy Law, in effect for sixteen months between November 12, 1942, and March 15, 1944, was perceived in American public opinion and diplomatic circles. It draws primarily on unpublished archival documents from the U.S. National Archives and contemporary reports from the American press. The main objective of this research is to analyze how external pressures on Turkey, during a period when the course of the Second World War was turning in favor of the Allies, influenced the implementation of the Capital Levy. Evaluations in American diplomatic documents and newspapers offer important insights into the political effects emerging at the intersection of Turkey’s international relations and domestic policies.
Keywords : Varlık Vergisi, Diplomatik Belgeler, Amerikan Basını, Savaş Ekonomisi, Azınlıklar

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