If you ask anyone the reason behind the rise of the Australian economy

If you ask anyone the reason behind the rise of the Australian economy, Gold mining wouldn't be a surprising answer. It is one of the most important industries contributing to the betterment, and development of the country. The gold rush in the nineteenth century was a turning point for Australia in every aspect. The Aussies made a huge name for, commonwealth bank australia, themselves around the globe through this chain of events involving the gold rush.



It was because of the sweat, and blood of thousands of workers who gave their lives for mining this hidden treasure. Apart from the economy, the psychology of the Australians was also elevated to a level of higher self-confidence.



The discovery of this worthy asset dates back to the year 1851, when Edward Hargraves discovered a grain of gold in a waterhole near Bathurst. Thanks to his expertise in gold, commonwealth bank australia, prospection, he was sure that there are many similarities in the physical features of Australia, and California, which is also gifted with numerous gold mines.



Indeed, he was correct. As a result, he was declared the Commissioner of land, and was rewarded with a life pension. This marked the beginning of a new era of success waiting for Australia.



Mining in Australia began with the arrival of Aborigines some 40,000 years ago when they were hunting for stones suitable for tools and weapons, and various other uses including decorations and household items.



When talking about a more recent history, it was the Europeans who arrived a few centuries ago in order to provide their useful input which was not only for the betterment of their personal lives but also flourished Australian economy.



Mining was done through tools like pans and picks. Modern techniques include large scale dredging, hard rock mining and hydraulic sluicing.



Successful diggers adopted businesses, or farms in the area. This impact was quite transparent to everyone due to the opening of various stores, hotels, and workshops on the famous Main Street Ballarat, along with the construction of new banks, and introduction of lending societies.



Various cultures have been brought to Australia due this gold rush, who all made contributions in the development of the country.



This enriched the cultural aspects of Australia, and also welcomed tourism in the country.



Gold mining also faced a lot of criticism from the Australian government at times due to a feeling of insecurity towards the pastoral industry, as everyone was fleeing towards the gold as it rewarded in the shape, commonwealth bank australia, of more money.



The discovery was nothing less than a complete transformation for Australia. In 1852 alone, 370,000 immigrants made Australia their new homeland, and became a reason for the boost in Australian economy.



In just two years, Australian population had grown from 77,000 to 540,000. Due to this insurgence, first railways, and telegraphs started operating in the area. These immigrants were not a burden for the country, as,, commonwealth bank australia, commonwealth bank australia, they contributed in every field though their skills in the development of Australia.