The value of South Australia's exports nearly halved.
In the 1890s Australia was affected by a severe economic depression, ending a hectic era of land booms and tumultuous expansionism.
Colonel William Light, one of Adelaide's founding fathers, designed the city and chose its location close to the River Torrens, in the area originally inhabited by the Kaurna people.
Light's design set out Adelaide in a grid layout, interspaced by wide boulevards and large public squares, and entirely surrounded by parklands.
Early Adelaide was shaped by prosperity and wealth—until the Second World War, it was Australia's third-largest city and one of the few Australian cities to not have convict history.
As South Australia's seat of government and commercial centre, Adelaide is the site of many governmental and financial institutions.