First published by Oxford University Press 1918.

Sir Timothy Coghlan (1855–1926) was the statistician for New South Wales from 1886. He produced the world's first example of national financial accounts, and is regarded as Australia's first 'mandarin'. His advice was sought by state and federal governments on matters as diverse as tax, public sanitation and infant mortality. In 1905 he took up an appointment as a New South Wales government agent in London, remaining there for the rest of his life. First published in 1918, this monumental book is Coghlan's very personal history of Australia, embracing materials, population growth, trade and land. It combines his long interest in literature, socio-political issues, statistics and finance with his professional interest in demography and fiscal policy. It offers an authoritative and balanced view of both the specific events and general developments in which he was intimately involved.

In Volume 1, he emphasizes the initial difficulties presented to economic growth by a population consisting mostly of convicts. With many statistical data, he also explores early immigration, trade, land distribution and attempts at agriculture.

In Volume 2, covering the period to the late 1860s, Coghlan again highlights population growth, and in particular the role of the state and colonies in organizing immigration, as a key factor in the development of the economy. A theme throughout this volume is the growing independence and confidence of each individual state.

Volume 3 covers a turbulent period. Coghlan examines the depression of the 1890s and the banking crisis of 1893, which saw the Federal Bank fail. He also devotes a large section to detailing labour and wages in this period, which saw the unprecedented Maritime Strike of 1890.

In Volume 4 Coghlan discusses in depth the foundation of the Australian Labor Party, which came after a series of devastating strikes in the 1890s. The recovery from depression and crisis, and the growing move towards federation, are also examined, alongside the recurrent themes of immigration, land and industry.