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Bank Of South Australia (1837)
The first Bank of South Australia was founded by the South Australian Company in 1837 and became defunct in 1892. It was essentially a British venture, closely supervised by British directors, but utilizing the knowledge and advice of local managers in South Australia. History It was created in 1837 by British investors. From 1840, it was associated with or a subsidiary of the South Australian Banking Company. From 1868, there was only one body, the Bank of South Australia. At the time of the gold rush, and the South Australia Colony was beset with, apart from the shortage of workers, a financial crisis due to the sudden increase in the availability of gold and the lack of sufficient currency to pay for it. The manager, George Tinline, created an assay office and mint (coin), mint, and the conversion of some of the diggers' gold to bullion which could be used as a form of currency. A Bullion Act was passed and some 25,000 Coins of Australia#Gold coins and Sovereigns, £1 coins wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Australian Company
The South Australian Company, also referred to as the South Australia Company, was formed in London on 9 October 1835, after the '' South Australia (Foundation) Act 1834'' had established the new British Province of South Australia, with the South Australian Colonization Commission set up to oversee implementation of the Act. The South Australian Company was a commercial enterprise, and not officially connected to the British Government or the Colonization Commission, but turned out to be indispensable in allowing emigration to the new colony to begin. The founding board of the company, headed by George Fife Angas, consisted of wealthy British merchants, with the purpose of developing a new settlement in South Australia, building a new colony by meeting an essential financial obligations of the ''South Australia Act 1834''. It bought up unsold land to the level required by the Act for emigration to be allowed to begin. During the first years of settlement, the company built a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |