Date
6-19-2024
Department
College of Arts and Sciences
Degree
Doctor of Philosophy in History (PhD)
Chair
Nathan Martin
Keywords
Australia, British investment, Pastoralism, Wool Production 1788 to 1850
Disciplines
Economics | History
Recommended Citation
Hedrick, Marie Cecilia, "The Australian Woolen Industry; British Investment in Colonial Australia: Unraveling the Threads of Economic Development 1788-1850" (2024). Doctoral Dissertations and Projects. 5753.
https://digitalcommons.liberty.edu/doctoral/5753
Abstract
The purpose of this study is to examine the dynamic relationship between British investment and the development of pastoralism and wool production in Australia from 1788 to 1850. It focuses on the crucial period of early European settlement and the subsequent growth of the wool industry as one of their first major staple industries. This study utilizes a multidisciplinary methodology approach, integrating historical, economic, political, and agricultural perspectives in order to provide a clearer understanding of the factors influencing British investment decisions. Research is conducted into the motivations behind British colonization in Australia with an emphasis on the role of wool production as a significant economic driver. It explores the establishment of the Australian wool industry and its intricate connections to British economic policies, trade networks, and the global demand for wool during the late 18th and early 19th centuries. Furthermore, this study delves into the key interactions of stakeholders, including British investors, government officials, pastoralists, and local communities in Australia. A critical component of this study is an in-depth investigation into the different phases of sheep farming and wool production in various Australian regions, highlighting the diverse challenges and opportunities faced by investors. In addition, research is conducted into the examination of the staple theory, the role of convict labor, land regulations, and the emergence of large-scale pastoral estates together with the implications of the ever changing climate of British economic policies. It also explores the transformation of Merino sheep breeding and the introduction of new sheep strains, emphasizing their significance in shaping the woolen industry. As a result, this study provides valuable scholarly research into the motivations of British investors, the challenges faced by pastoralists, and the overall impact of these dynamics on the trajectory of Australia's wool industry during a pivotal period in history.
