History of Vardan and the Armenian War

Mikael Portugal left the Bank, not without misgivings regarding the future of an institution he had taken such pride in, and accepted his new position with satisfaction. This was because he would be able to dedicate all his efforts, energy, and even his very life to the benefit of the Imperial person himself.

While adopting the administrative system of his predecessor, he nevertheless curbed certain abuses and focused all his attention on the pursuit of major enterprises, such as the navigation project on the Euphrates River and the construction of the quays in Thessaloniki. The latter was the only proposal that was put into action.

At the same time, he gave a new impetus to the Imperial carpet factory in Hereke, expanding its production to Europe and even America. "He is the primary and principal cause of all the progress achieved there," wrote the Levant Herald a prominent English-language newspaper in Constantinople.

His Imperial Majesty the Sultan sought his advice on all financial operations and frequently invited him to attend the Council of Ministers.

In recognition of his numerous services and tireless efforts, he rose to the highest rank of vizierate (1893) and received, in succession, the jeweled decorations of the Medjidie Order of the Medjidie and Osmanie Order of Osmanie, as well as the gold and silver medals of Imtiyaz Merit and Liakat Distinction.

However, such extensive labor and prolonged hardship took a continuous toll on his health. This occurred without any warning of the catastrophic end that took place at the end of 1897, in the prime of his life, depriving the Sovereign of one of his most faithful officials, and the Ottoman people of a personality deeply zealous for their rights.

Three small asterisks arranged in a triangular cluster acting as a section divider.

Through his justice and integrity, which made him a slave to his duties, through his profound skill, and finally through his personal virtues, Mikael Pasha would have been able—even had he not held such a brilliant political position and high office—to rank among the first of those who bring honor to the Ottoman Empire and the Armenian nation.