‘Besides [the] political argument…there was a strong economic one, supported morally by the Germans. It was to end the Armenians’ economic supremacy, thereby clearing the markets for Turks and Germans.’ (Adıvar 1926: 386) IntroductionOne of the marginalized topics in the historiography of the Ottoman Empire in general, and that of the Armenian Genocide in particular, is the fate of ‘Armenian capital’ during World War I. Ottoman historians have often been inclined to highlight the great achie...