ABSTRACT
At the 1890 congress of German socialists which was held in the Thuringian town of Erfurt, a programme was adopted to set the SPD on a course towards revolution and socialism. In line with Karl Marx’s demand for the ‘dialectic unity of theory and practice’, the so-called Erfurt programme comprised a theoretical and a practical part. The theoretical part, drawn up by Karl Kautsky, affirmed that the final goal of the SPD was revolution, which would signal the inevitable collapse of the capitalist system. In recent years economic developments in Australia have attracted extraordinary interest. The financial world, especially that of England, follows with anxious concern the great crash which has overtaken land speculators, entrepreneurs, various industries and almost all public finances of the colony. The daily press and reviews published biting comments and critiques where previously they had been industriously advertising the prospects of the continent.
