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What were the initial purposes of the New South Wales colony?

The initial reason for settling New South Wales is a matter of dispute. The traditional view is that Britain sought to relieve the pressure on its prisons by establishing a penal colony in the region. However, some historians argue that establishing a bastion for British sea power in the eastern seas, either for strategic purposes or as a springboard for the economic exploitation of the area, was the true purpose behind the settlement. It is likely that the government had some interest in all these factors.