The 1890s Depression and Australia's Banking Crisis

This course examines the dramatic collapse of Australia's banking system during the 1890s depression, a pivotal moment in the nation's economic history. As Australia's once-booming prosperity faltered, a series of bank failures marked the climax of a broader economic downturn. We explore how over-reliance on British investment, coupled with poor regulation and risky financial practices, led to widespread unemployment and the collapse of major banks. Through the lens of key events, such as the 1893 banking panic and the efforts of political leaders like George Dibbs, students will understand how government intervention and economic mismanagement played a role in both deepening and mitigating the crisis. Additionally, the course will highlight the impact on everyday Australians, exploring how bank runs, gold shortages, and economic uncertainty shaped public sentiment and investor confidence. By the end of the course, students will gain a comprehensive understanding of the causes and consequences of the 1890s depression, and how it reshaped Australia's financial landscape in the lead-up to federation. IN DEVELOPMENT: COURSE OVERVIEW ONLY