Chapter 75 : The Royal Bank Opens

On February 17th, 1901, a crowd gathered on a street in Sydney, eagerly anticipating the opening of the Royal Bank of Australia. The building had been renovated and adorned with the bank's sign, drawing in crowds of people.

The opening of a bank alone would not have attracted so many people, but it was the accompanying policy announced by Arthur that really drew them in. The policy stated that every Australian family could receive an unconditional loan of up to 200 pounds from the Royal Bank, and could also use their assets to secure a loan of up to 1,000 pounds.

Combined, families could receive loans of up to 1,200 pounds, a sum that even wealthy families in the prosperous British Empire could not easily obtain. For some, this sum could be life-changing, enabling them to start a small business or even become a rising star in the business world.