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Period: to
Timeline of Australia Money
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Private Bank Notes begin to Circulate
In the first decade after Federation, private bank notes continued to circulate as a paper currency. -
Basic Wage introduced
The Basic Wage is introduced (at £2/2/-). -
The Australian Note Emblem comes out
The Australian Notes Act 1910 is passed vesting authority to issue Australian notes in the Treasury. As an interim measure the Government overprints private bank notes with the words 'Australian Note'. -
The first Australian currency note is created
The first Australian currency note (10 shillings) is issued. Other denominations follow. The notes reflect the dependence of the Australian economy on rural and mining industries. -
Bank takes over distribution of Money
The Commonwealth Bank takes over the distribution of currency notes from the private banks and organises the first Australian war loan. -
Printers are created to print notes
The 'Harrison series' of currency notes is issued (named after Thomas S Harrison, the Australian Note Printer). -
Australia joins the IMF
Australia joins the International Monetary Fund (IMF). -
Australia Converts
Australia converts from pounds, shillings and pence to decimal currency.The first series of decimal notes is issued. The new notes capture the emerging diversity of Australian society including its literature. -
Australia Changes
Australia breaks the fixed link of the $A to the $US. -
$50 is released
A $50 decimal currency note is issued. -
Credit is introduced
The Bankcard (credit card) system is introduced. -
ATM's are Introduced
Automatic Teller Machines (ATMs) are introduced.
