THE ROLE OF POST-TELEGRAPH SERVICE IN ECONOMIC MODERNIZATION AND DEVELOPMENT OF BANKING AND TRADE CAPITAL IN FERGANA REGION: A HISTORICAL ANALYSIS
Keywords:
Fergana region, post-telegraph system, economic modernization, trade capital, commercial banking, cotton industry, Nobel brothers, market integration.Abstract
This study explores the historical role of the post-telegraph service in driving economic modernization and accelerating banking and trade capital accumulation in the Fergana region during the late XIX and early XX centuries. Focusing on the rapid expansion of the cotton-industrial complex, the article analyzes how the introduction of synchronized telegraphic communication transformed regional financial transactions, market pricing mechanisms, and information flows. Based on extensive materials from the National Archives of Uzbekistan, the research highlights how global investing syndicates, trade houses—such as the Nobel Brothers—and transnational commercial banks utilized international telecommunication networks to institutionalize real-time market integration between the Fergana Valley and continental European commodity exchanges.
