A Tug of War On November 27, 1922, the Finance and Economic Affairs Commission convened to discuss the capitulations and İsmet Pasha demanded that all the limitations that hindered the economic independence of Turkey be removed. He explained that a country cannot be independent with capitulations and that the situation of the foreigners in Turkey were already guaranteed with general laws that were in place as is the case in all civilized and independent countries, and that Turkish delegation would only accept being in a commission in line with these principles. (SOURCE) The French delegation, coming from a country that had made great profits out of capitulations, insisted that capitulations be replaced with another system. İsmet Pasha refused the offer, completely aware that the new and unknown system could jeopardize the security or independence of the state. Lord Curzon claimed that capitulations were based on rights given by the treaty and that even the Germans, the ally of the
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