The building represented in this watercolour marks a significant period in Melbourne's development as a cosmopolitan city, riding on the wave of the incredible wealth generated from gold. To demonstrate its optimism, enthusiasm and energy, Melbourne decided to host an International Exhibition.The Victorian government agreed to finance a new exhibition building. A public competition was held and in May 1878 the winner was announced. From a pool of 18 entries, Joseph Reed of Reed ; Barnes architects took first prize (and Ł300 prize money). Lloyd Tayler, a very prominent architect in Melbourne (and Australia) was awarded Ł200 for this second place entry (as a consolation prize he was also appointed an exhibition commissioner with a gold pass to the Melbourne International Exhibition). Third place was awarded to Peter Matthews who received Ł100.Though Tayler did not win the competition, this watercolour of his design gives a vivid sense of the grandeur envisaged by supporters of the International Exhibition.