He received his doctorate in 1934 for a dissertation on the diplomatic history of the Baghdad Railway, published in 1936.
In explaining why neutral Britain went to war with Germany, Kennedy (1980) recognized it was critical for war that Germany become economically more powerful than Britain, but he downplays the disputes over economic trade imperialism, the Baghdad Railway, confrontations in Eastern Europe, high-charged political rhetoric and domestic pressure-groups.
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One of his top priorities was the financing of international railway projects, including the Northern Pacific, and the Baghdad Railway.
In the late 1870s, Pressel succeeded in convincing Sultan Abdul Hamid II that the Baghdad Railway needed to be built.