Did Australian colonies exist to make money?

Answer 1

Yes, Australian colonies were initially established primarily for economic reasons, particularly for British interests. The first colony, New South Wales, was founded in 1788 as a penal settlement but also aimed to exploit the continent's resources and develop a profitable agricultural economy. Over time, the discovery of gold and other valuable resources further incentivized British colonial expansion, leading to increased Immigration and economic development. Thus, while penal transportation was a key factor, the overarching goal of economic gain was central to the establishment and growth of Australian colonies.