According to a report in the Empire, 20 May 1868, the Australian Library opened on 'October 1st, 1827, in a room of No. 1 Terry's-buildings, Pitt-street'. The dispenser of the Government Dispensary was appointed librarian. After various false starts, Governor Gipps allocated land for the erection of a library 'at the corner of Macquarie and Bent streets'. A foundation stone was laid on 14 February 1843 and the building took a further three years to complete at a cost of £5000.
Source: 'Australian Institutions: Australian Library.' Empire, 20 May 1868: 6