Object : Borrowing and business in Australia

CRISIS OF 1840-3
cent. of the people of the province were thrown suddenly into
destitution, surely the most vigorous wielding of the axe of
economy that the continent has ever seen. But the effect was
to drive the city workers to the land, and the great productivity
of the country wiped out all traces of the depression within a
few years. Indeed, the wheat yield of 1842-3 was so great that
it could not all be harvested.

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