Company type | Bank |
---|---|
Founded | 1826 |
Defunct | 1843 |
Headquarters | Sydney , Australia |
Area served | Colony of New South Wales |
The Bank of Australia was a failed financial institution of early colonial New South Wales. It was formed in 1826 and collapsed in 1843.
The Bank of Australia was formed in 1826 by a producers' and merchants' group as a rival to the Bank of New South Wales. [1] : 333 The bank opened on 3 July 1826 in George Street, Sydney. [2] The first directors of the bank were: Thomas Macvitie (managing director), Edward Wollstonecraft, John Macarthur, Richard Jones, Thomas Icely, John Oxley, George Bunn, W.J. Browne, Hannibal Macarthur, James Norton, and A.B. Spark. [3] : 196 fn 44
It was dubbed the "pure merino" bank because its share register included the plutocracy of the colony, but excluded the ex-convicts who had been associated with the Bank of New South Wales. [4]
In September 1828, thieves tunnelled into the Bank of Australia in Lower George Street, Sydney and stole about £14,000, described in 2008 as "the largest documented bank theft" in Australian history (in relative values and expressed as a proportion of GDP). [5]
When investors responded to the depression of the late 1830s by the abrupt withdrawal of capital, leading to a chain of insolvencies, a number of colonial banks found that their unrestricted lending had sent land prices soaring as speculators borrowed to invest, especially in urban areas. When the banks called in these loans further insolvencies occurred, and a number of banks, including the Bank of Australia, failed in 1843. [6] A number of leading colonial figures lost their fortunes, with many taking advantage of the Insolvent Debtors Act 1841. [4]
The Rum Rebellion of 1808 was a coup d'état in the then-British penal colony of New South Wales, staged by the New South Wales Corps in order to depose Governor William Bligh. Australia's first and only military coup, its name derives from the illicit rum trade of early Sydney, over which the 'Rum Corps', as it became known, maintained a monopoly. During the first half of the 19th century, it was widely referred to in Australia as the Great Rebellion.
This article describes the history of the Australian state of Victoria.
William Charles Wentworth was an Australian statesman, pastoralist, explorer, newspaper editor, lawyer, politician and author, who became one of the wealthiest and most powerful figures in colonial New South Wales. He was among the first colonists to articulate a nascent Australian identity.
Campbelltown is a suburb located on the outskirts of the metropolitan area of Sydney, New South Wales, Australia. It is located in Greater Western Sydney 53 kilometres (33 mi) south-west of the Sydney central business district by road. Campbelltown is the administrative seat of the local government area of the City of Campbelltown. It is also acknowledged on the register of the Geographical Names Board of New South Wales as one of only four cities within the Sydney metropolitan area.
John Macarthur was a British Army officer, entrepreneur, landowner and politician who was a highly influential figure in the establishment of the colony of New South Wales. He was also a pioneer of the Australian Merino wool industry, and was instrumental in agitating for, and organising, a rebellion against Governor William Bligh in what is now termed as the Rum Rebellion in January 1808.
Charlotte Atkinson (1796–1867) was the author of Australia's earliest known children's book. The book titled A Mother's Offering to her Children: By a Lady, Long Resident in New South Wales. Sydney: Gazette Office was published in 1841.
The following lists events that happened during 1796 in Australia.
The following lists events that happened during 1797 in Australia.
John Thomas Bigge was an English judge and royal commissioner. He is mostly known for his inquiry into the British colony of New South Wales published in the early 1820s. His reports favoured a return to the harsh treatment of convicts and the utilisation of them as cheap agricultural labour for wealthy sheep-farming colonists. Bigge's reports also resulted in the resignation of Governor Lachlan Macquarie whose policies promoted the advancement of ex-convicts back into society.
Elizabeth Farm is a historic estate located at 70 Alice Street, Rosehill, a suburb of Sydney, New South Wales, Australia. Elizabeth Farm was the family home of wool pioneers John and Elizabeth Macarthur. The estate was commenced in 1793 on a slight hill overlooking the upper reaches of Parramatta River, 23 kilometres (14 mi) west of Sydney Cove. The Burramattagal clan of the Dharug people are the traditional custodians of the area; their presence is recalled in the name Parramatta.
Eric Simms is an Indigenous Australian former professional and national representative rugby league footballer who has been named among the nation's finest of the 20th century. His primary position was at fullback although he could also play as a centre. Simms played his entire first grade career for South Sydney with whom he won four premierships and was top point-scorer for four consecutive seasons.
Lieutenant Colonel George Barney was a military engineer of the Corps of Royal Engineers and became Lieutenant Governor of the Colony of North Australia.
The Register, originally the South Australian Gazette and Colonial Register, and later South Australian Register, was South Australia's first newspaper. It was first published in London in June 1836, moved to Adelaide in 1837, and folded into The Advertiser almost a century later in February 1931.
Hannibal Hawkins Macarthur was an Australian colonist, politician, businessman and wool pioneer. The nephew of John Macarthur and son-in-law of former New South Wales governor, Philip Gidley King, he was well-connected in the early colony of New South Wales.
John Purdy was an Australian chess player and Family Court judge.
Geoffrey Eagar was an accountant and colonial politician and civil servant in New South Wales, Australia.
James Norton was a solicitor and public figure in early colonial New South Wales. Admitted to practise in England, he arrived in Sydney in September 1818 where only four other attorneys were then practising. He was the founder of the first law firm in Sydney. He was a member of the first Legislative Council under responsible government in New South Wales in 1856, and drafted numerous laws. He held land at Mulgoa which was farmed and owned Elswick, a 30 ha estate in what is now Leichhardt where he grew prize flowers and plants. He was a leading Sydney member of the Anti-Transportation League and a protectionist in whose cause he published a series of pamphlets.
The Australian was an English-language newspaper published in Sydney, Australia.
This is a list of members of the New South Wales Legislative Council from 1843 to 1851. The 1843 Electoral Act prescribed 36 members, 24 to be elected, 6 appointed by virtue of their office and 6 nominated. The appointments and elections were for five year terms and thus occurred in 1843, and 1848. The Speaker was Alexander Macleay until 19 May 1846 and then Charles Nicholson. The parliament was dissolved on 30 June 1851 as a result of the 1851 Electoral Act which increased the number of members in the Council to 54.
John Hosking was a politician, merchant and magistrate in the colony of New South Wales. He was the first elected mayor of Sydney, serving from 1842 to 1843.