Economic Impact of the Gold Rushes
- Discovery and Boom
- Gold discovered in New South Wales and Victoria (1851) and Otago, New Zealand (1861) sparked massive migrations.
- Global Migration
- Thousands of miners arrived from Britain, Ireland, Europe, and China, dramatically increasing colonial populations.
- Wealth and Development
- Gold revenue boosted colonial economies, funding infrastructure, railways, and banks.
- Shift in Industry
- Wealth flowed into pastoralism, manufacturing, and later urban commerce, laying the foundations of industrial economies.
- Economic Inequality
- Few miners became rich; many workers faced unstable wages and harsh living conditions.
Definition
Infrastructure
- Basic facilities like roads, railways, and ports built with mining profits.
Definition
Boom and Bust
- Economic cycles of rapid growth followed by decline common in mining towns.
Social Changes and Growth of Cities
- Urban Expansion
- Gold discoveries turned towns like Melbourne and Ballarat into bustling cities; Melbourne was called the “Marvellous City” by the 1880s.
- Population Growth
- Australia’s population quadrupled between 1851 and 1891; New Zealand’s doubled during the Otago rush.
- Cultural Diversity
- Immigration brought Chinese miners, Europeans, and Americans, creating early multicultural societies but also racial tension.
- Social Mobility
- Gold offered opportunities for class advancement; former miners became shopkeepers, journalists, and politicians.
- Environmental Impact
