Send us a text In the unforgiving landscape of 1840s South Australia, economic disaster struck with devastating consequences. This deeply researched episode unveils the human story behind colonial financial collapse through the experiences of 22-year-old John Watts, who arrived in 1842 with £500 and dreams of prosperity, only to find himself destitute within a year. The narrative takes us to Echunga Springs, where the once-prosperous Hack brothers had established impressive vineyards, wheat fields, and a profitable dairy. Through John's firsthand account, we witness his initial optimism as he works the land, milking sixteen cows per hour and watching as dray loads of melons, fruits and vegetables were sent to market. But beneath this productive surface, financial disaster loomed. South Australia's economic fabric was unraveling rapidly. With communication to England taking eighteen months round-trip, immigrants had no way of knowing they were sailing into financial catastrophe. By December 1842, one-third of Adelaide's houses stood empty, Governor Gray's drafts on the British Treasury were dishonoured, and only seven merchants remained solvent out of thirty. The most heart-wrenching moment comes when bailiffs strip everything from the home of Stephen Hack's wife, who had given birth just three days earlier. "Two men took hold of the mattress Mother and I were lying on, lifted us off the bedstead onto the floor and carried that away also," wrote Stephen's son years later. This callous act caused a permanent rift between the Hack brothers. Through primary sources including letters, diaries and court records, we piece together the manipulated auction that saw valuable assets sold for a fraction of their worth, and how Jacob Hagen, supposedly a friend and fellow Quaker, orchestrated proceedings to acquire the Hack property at far below market value. Join us for this remarkable journey into Australia's colonial past that reveals not just economic history, but the resilience of settlers like John Watts who, despite losing everything, found work cutting wood at two shillings per load and began saving for passage home. Their stories continue to resonate as powerful reminders of Australia's challenging early years, and the determination required to survive them. Contact us at todaysstories101@gmail.com.
