The town was founded in the 1870s when gold was found in the area, and rapidly grew to become a regional centre. In the boom years, between 1872 and 1899, Charters Towers operated the only Stock Exchange outside of a capital city. During this period, the population was approximately 27,000, making Charters Towers Queensland's largest city outside of Brisbane. The City was also affectionately known as 'The World', as it was said that anything one might desire could be had in the 'Towers', leaving no reason to travel elsewhere.
However, most of the mines have now closed, and, although several new ones are currently operating, the population has sunk to about 10,000. The city is completely surrounded by the rural shire of Dalrymple which has its offices and works depots within Charters Towers.
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