My Aunt told me stories about the 1930's depression in Melbourne. People knocking on the door looking for odd jobs and families living in tents near Spencer St station. My Great grandfather had to travel to the WA goldfields in the 1890's with his brother because things were so bad in Victoria . He ended back in Bendigo later on. He died early because of a lung condition ( that was put down to the dust in the WA goldfields) and lost money speculating on gold mining shares. From what I have read the 1890's depression was worse than the 1930's depression in Victoria. Hard to believe its possible considering the reputation of the Great Depression. Property prices did not recover until the 1950's, a 5 day bank holiday cash (as in bank notes not Government legal tender) became worthless. It would have paid to have your money in gold sovereigns and maybe sterling silver currency such as Crowns, half crowns etc. Did you learn any more about what happened to your Great Grandfather?
