Economy and Trade
The colonies relied heavily on imports from England for survival. The official currency of the colonies was the British pound, but the unofficial currency and most readily accepted trade good was rum. During this period Australian businessmen began to prosper. For example, the partnership of Berry and Wollstonecraft made enormous profits by means of land grants, convict labour, and exporting native cedar back to England.
Read more about this topic: History Of Australia (1788-1850)
Famous quotes containing the words economy and, economy and/or trade:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Unless we do more than simply learn the trade of our time, we are but apprentices, and not yet masters of the art of life.”
—Henry David Thoreau (1817–1862)