British Colonial Investment in Colonial N.S.W. 1788-1850
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The traditional recounting of early Australian Economic History is that Britain decided to settle the continent for 'strategic' advantages and as a source of raw materials for its industry, and as an outlet for its trading and the transfer of resources (a takeover) by the new economic managers. The official intention of settling the colony was for peaceful & co-operative economic development of the new land, beneficial to British traditional interests and not intended to undermine or engage in war with the native population, and to share what food resources were naturally available. The gulf b...
The traditional recounting of early Australian Economic History is that Britain decided to settle the continent for 'strategic' advantages and as a source of raw materials for its industry, and as an outlet for its trading and the transfer of resources (a takeover) by the new economic managers. The official intention of settling the colony was for peaceful & co-operative economic development of the new land, beneficial to British traditional interests and not intended to undermine or engage in war with the native population, and to share what food resources were naturally available. The gulf between the two societies was too large to be bridged and the British settlement succeeded while the ancient society was destroyed. The destruction of traditional Aboriginal society was recognized by depopulation from an accepted population of about 1 million in 1788 to 250,000 by 1848 whilst an estimated 50% of Aboriginal resources were absorbed by white settlers between 1788 and 1809 The extent and content of British Colonial Investment is discussed as are topics such as the role of Immigration and Foreign Investment, the reasons for the colony, and the highlights of the British rule in the economy and the colonial economic experiment undertaken by Macquarie.
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