The severe depression experienced by Australia from …
Years: 1888 - 1899
The severe depression experienced by Australia from 1891 results in the establishment of the socially innovative Liberal party.
Left wing political parties increase in popularity, and a call begins for welfare legislation.
Many Australian banks fail in the early 1890s, capping a period of prolonged drought, antagonism between workers and owners, and a series of bitterly contested strikes in the industrial sector.
Economic depression follows.
