In the late 1860s Thames was booming, a result of gold mining on the Coromandel Peninsula. The gold rush reached a peak in the early 1870s, and the profits helped establish a wealthy business community in Auckland. But in 1878, after the failure of the City of Glasgow Bank, and later, in the crash of 1886, many of those who had risen on the back of Thames gold fell equally fast.
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Auckland War Memorial Museum Tamaki Paenga Hira
Photograph by Daniel Louis Mundy
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