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Because major gold discoveries were made in Victoria, this newly separated state suddenly found itself very wealthy. Businesses boomed, together with the population, and more people settled further out from the established towns, sparking interest and enthusiasm in exploration. All of the colonies experienced wealth in some form as a result of the goldrushes, whether by more business or Immigration.

Gold brought wealth to Australia, and with it, a new sense of identity, and the independence and confidence to push for Federation and the establishent of the Commonwealth of Australia in 1901. Basically, Australia no longer needed to be "piggybacked" by England any more.

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