On 13 March 1826, an elite group of gentlemen rendezvoused at the Sydney Hotel to set up the 'Sydney Australian Subscription Library and Reading Room'.
Agreeing to abide by a  strict set of rules for loaning, reading and purchase of books they also paid a £5 admission fee and £2 per year for a continued membership.
The Library's first reading room was opened at No.
1, Terry's Buildings in Pitt Street, Sydney in December 1827.

In 1831, Governor Ralph Darling gifted the Library the two building allotments located in Hyde Park for a new library building and two allotments in the area of Rushcutters Bay to be sold for funding the library's development.
The Library moved to the Old Sydney Post Office on George Street in December, 1831.

On 29 July 1834, an Act was passed which allowed the library to own land and sell shares and changed its name to the “Australian Subscription Library.”
Around this time there were offers to erect a permanent building for the Library at the government's expense but this was turned down as the members forwent their claim to the site of building allotment.
Ironically Governor Richard Bourke's preferred location was close to where the Library would later be built, as it was in the Government Domain,
in that part of the prolongation of Bent Street, intervening between the site of the old windmill, at the end of Macquarie Street, and the Botanical Gardens.

In May 1836, while expressing its unhappiness about the location of their new building, they were forced to move to upper floor Chief Justice Francis Forbes' residence, at Bridge and Gresham streets.
In May 1840 they sold the allotments in Hyde Park and Rushcutters Bay to raise money to start work on a new building at Bent and Macquarie Streets.
Commenced in 1843 it was finally completed in November 1845.
And became the first permanent building specifically designed to house the collections.

The ownership of land and new building also brought on the decision to make a major change to its management structure.
On 7 October 1853, the library passed an Act of Incorporation and renamed itself the ‘Australian Library and Literary Institute’, in effect making it a public company with 1000 shares set at 25 pounds each.

 According to long-term member George Miller, this was done to imitate similar institutions in England and create a body of shareholders, "who would, in fact, be the holders of the property, and thus become interested in its welfare and advancement."

However, the limited number of shareholder caused ongoing financial difficulties for the library who finally decided in 1869 to offer the building and books to the Government to clear their debts.
 On 22 September 1869, the government bought for £1500 the Library's books and also rented their building for 12 months at £800 in advance, also holding the right to buy that building for £4000 or over.

Mr Walker, the Inspector of Public Charities, was appointed its new Librarian, while Mr Hawley, the old Librarian, was appointed as his assistant.
The new libraries collections included transfers of books and records held in other Government Departments and the addition of the Judge Wise collection of Australian material.
On 30 September the building reopened as the Free Public Library with the new management.
After 40 years work, there was a library in Sydney with free access to magazines, journals and books.
On 13 March 1826, an elite group of gentlemen rendezvoused at the Sydney Hotel to set up the 'Sydney Australian Subscription Library and Reading Room'. Agreeing to abide by a  strict set of rules for loaning, reading and purchase of books they also paid a £5 admission fee and £2 per year for a continued membership. The Library's first reading room was opened at No. 1, Terry's Buildings in Pitt Street, Sydney in December 1827.
In 1831, Governor Ralph Darling gifted the Library the two building allotments located in Hyde Park for a new library building and two allotments in the area of Rushcutters Bay to be sold for funding the library's development. The Library moved to the Old Sydney Post Office on George Street in December, 1831.
On 29 July 1834, an Act was passed which allowed the library to own land and sell shares and changed its name to the “Australian Subscription Library.” Around this time there were offers to erect a permanent building for the Library at the government's expense but this was turned down as the members forwent their claim to the site of building allotment. Ironically Governor Richard Bourke's preferred location was close to where the Library would later be built, as it was in the Government Domain,
in that part of the prolongation of Bent Street, intervening between the site of the old windmill, at the end of Macquarie Street, and the Botanical Gardens.
In May 1836, while expressing its unhappiness about the location of their new building, they were forced to move to upper floor Chief Justice Francis Forbes' residence, at Bridge and Gresham streets. In May 1840 they sold the allotments in Hyde Park and Rushcutters Bay to raise money to start work on a new building at Bent and Macquarie Streets. Commenced in 1843 it was finally completed in November 1845. And became the first permanent building specifically designed to house the collections.
The ownership of land and new building also brought on the decision to make a major change to its management structure. On 7 October 1853, the library passed an Act of Incorporation and renamed itself the ‘Australian Library and Literary Institute’, in effect making it a public company with 1000 shares set at 25 pounds each.
 According to long-term member George Miller, this was done to imitate similar institutions in England and create a body of shareholders, "who would, in fact, be the holders of the property, and thus become interested in its welfare and advancement."
However, the limited number of shareholder caused ongoing financial difficulties for the library who finally decided in 1869 to offer the building and books to the Government to clear their debts.  On 22 September 1869, the government bought for £1500 the Library's books and also rented their building for 12 months at £800 in advance, also holding the right to buy that building for £4000 or over.
Mr Walker, the Inspector of Public Charities, was appointed its new Librarian, while Mr Hawley, the old Librarian, was appointed as his assistant. The new libraries collections included transfers of books and records held in other Government Departments and the addition of the Judge Wise collection of Australian material. On 30 September the building reopened as the Free Public Library with the new management. After 40 years work, there was a library in Sydney with free access to magazines, journals and books.
Australian Subscription Library