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It should be pointed out that the name AUSTRALIA was first used by Matthew Flinders in his descriptions of his voyage around the continent in 1802-03 and later in his official report in England. In 1817 Governor Lachlan MacQuarie recommended the name.
If we use the year 1788 as the founding year then rightly that year applies only to New South Wales and the celebration should be officially New South Wales Day.
So what are we celebrating? The first European settlement in New Holland, Terra Australis Incognita, The Great South Land????? New South Wales Day? Or some nebulous, ill-considered, political afterthought that is yet to be resolved?
It is probably fortunate that we were not forced to declare war and fight for independence as happened in the USA but it would have simplified our choice of a day for the foundation of our nation.
Whatever happens, I'm disinclined to treat our national day as an occasion for wearing a black arm band. Yet I'm often discomforted by the knowledge that a golden thread that runs through British law is one that states [paraphrased] that if you steal something you cannot deprive the original owner of his rightful title of ownership and nor can you pass on valid title to a third party.
No one has been able to settle my mind on this issue.