Reynard's blog

The REAL history of the IPA

Banking Issues Australia Timeline

1788-1818

1. Banking contolled by UK

2. 1808 Rum Rebellion – a coup by the NSW Corps with the central issue being currency. UK limits led to rum being the main currency medium of exchange. This issue lasted until Federation.

3. NWS grants permit for the Bank of NSW to become the first Australian Bank. UK disallows this making BNSW an illegal operation.

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