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Unrealistic amounts of money were borrowed, house prices rose considerably and share prices on the Australian stockmarket crashed.By the end of the decade a large number of corporations had collapsed.The following year the government announced that `Advance Australia Fair' would supercede `God Save the Queen' as Australia's national anthem.The debate over the anthem went on for years until a national poll on the question was held in 1977.The 'White Australia' Policy was established, the Australian Labor Party was formed, Empire Day was inaugurated and the High Court was set up. The New South Wales Aboriginal Protection Board was established and Canberra was chosen as a site for the federal capital.
Peters Icecream company began and, appropriately, the automatic totalisator for betting on horse-races was invented by an Australian.Australia's high profile in sport continued with success in the America's Cup, the Wallabies rugby tours, the world surf-riding championship and victory in the Ashes tour of England for the first time in 55 years.Questions for research and discussion: By 1994, the Australian Labor Party has governed Australia for over 10 years, Paul Keating is the Prime Minister and the move for Australia to become a republic is gaining momentum.In 1973, Australia had a new icon -- the Sydney Opera House.This landmark was officially opened by Queen Elizabeth II who was now known as the Queen of Australia.
The flag we have today was chosen, all men and women could vote except for Aboriginal people.