In October 1851 thousands of South Australian men left their jobs to try their luck in the Victorian goldfields, severely bankrupting the state of its labour and coinage. In order to avoid financial disaster, Acting Manager of the South Australian Banking Company George Tinline (1815-1895) proposed the establishment of the South Australian Assay Office which was to pay more per ounce for gold than any other colony in Australia, outbidding Melbourne for Victorian gold. This plan was executed in conjunction with the Bullion Act of 1852 which enabled banks to exchange gold bullion for hand notes at a fixed value. This meant that gold ingots were worth 72 shillings per ounce in South Australia, compared to 58-60 shillings in Melbourne. This difference was worth the gold diggers while, and soon gold flowed from diggers and dealers to the Adelaide market, the devalued currency ensuring a roaring export trade with Victoria and success for the Bank of South Australia.
In honour of his crucial work and imaginative efforts in maintaining credit and preventing the financial collapse in the colony of South Australia, Tinline was presented with the silver salver. At a private dinner attended by 200 notables, Chairman George Elder expressed that the colony was indebted to Mr. Tinline, proclaiming him a ‘faithful steward of South Australia.’ In addition to the inscribed salver, he was given 2000 guineas; and was awarded £1000 by the London directors. The salver itself was made by Hunt & Roskell, ‘silversmiths and jewellers to the Queen,’ for a significant sum.
The salver is a unique contribution to the understanding of the effects of the Victorian gold rush on South Australia and the state’s subsequent response. The surface designs visually document the financial crisis of 1851-53 and recognises the leadership of George Tinline in averting the financial collapse of the colony. It is also an exemplar of Hunt & Roskell’s distinctive cultural and decorative silversmith style, which often incorporated Australian flora and fauna motifs in its design.
You are all set!
Your first Culture Weekly will arrive this week.