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Australian colonial banking crisis of 1866 and after
The article traces repeated colonial financial crises before 1866, noting bank failures in 1840s and 1850s, then the Agra and Mustermann Bank collapse in 1866 that shook New South Wales and Queensland. It highlights dependence on wool and gold, the rise of London credit, and the lesson that Australian governments could not rely on London alone to avert crises. The piece discusses shifting economic drivers, tariff-focused growth, and the need for diversified banking and finance.
MENTIONED IN THIS ARTICLE
Western Australia
South Australia
Agra
Must ‘Erman’y Bank
New Suth Wales
Queensland
Waterloo Company
Bank of Australia
Sydney
Port Phillip
Dadiam
Britain
Victoria
New South Wales
South Wales
Australia
London
Newith Wales
Financial World
Yhn Bull
Ceuffrey
Oriental Bank
Agra Bank