The Depression of the 1840s, experienced Australia-wide, was a major halt to rapid economic growth in Van Diemen"s Land. The continued low price of wool in the London market after 1837, the 1839 English recession, the collapse of the mainland markets for grain and livestock, and the downturn of Tasmanian capital invested in Port Phillip speculations led to the Depression…Two banks closed. 1
The Depression of the 1840s, experienced Australia-wide, was a major halt to rapid economic growth in Van Diemen"s Land. The continued low price of wool in the London market after 1837, the 1839 English recession, the collapse of the mainland markets for grain and livestock, and the downturn of Tasmanian capital invested in Port Phillip speculations led to the Depression…Two banks closedThe economy of
