city's east parklands, before losing it in a controversial move to Melbourne. The (Old) Adelaide Gaol was closed in 1988. In 1989, the Australian Submarine Corporation naval shipyards were opened. In 1991, the University of South Australia was formed from a merger of several state government education institutions. The 1992 $3.1 Billion State Bank collapse plunged both Adelaide and South Australia into economic recession, was the biggest banking crisis in Australia since the great bank crashes in Victoria in the 1890s, the economic effects are still felt today. This resulted in the resignation of the then both Premier and Treasurer (1982 to 1992) John Bannon, in the resulting 1993 election, the Liberal part won what is still the largest majority government in South Australian history of 23 seats. Twenty-first century From 1999 until 2020, the Adelaide 500 Supercars race used part of the Adelaide Street Circuit and renewed economic confidence under the Rann Government. The late first decade of the 21st century have seen extensions of the remaining tram network, the first growth after the decline of the system during the 1950s. The western end of North Terrace was revitalised after the relocation of the Royal Adelaide Hospital from the eastern end in 2017, as well as the subsequent opening of the South Australian Health and Medical Research Institute (SAHMRI), the University of Adelaide Health and Medical Sciences building, the University of South Australia's Health Innovation Building and various other health and biomedical research institutes under construction, leading to the informal moniker of the western end of North Terrace as Adelaide's "BioMed City" precinct. Much of this land was formerly railyards. See also Timeline of Adelaide history Light's Vision Proclamation Day Australian Overland Telegraph Line Street Naming Committee (Adelaide) The Old Gum Tree Old Government House, Belair People Edward Charles Frome References Further reading Ray Broomhill, "Underemployment In Adelaide During The Depression." Labour History. Nov 1974, Issue 27, p31-40. On 1930s Elizabeth Kwan Living in South Australia: A Social History Volume 1: From Before 1836 to 1914 (1987) Kathryn Gergett and Susan Marsden Adelaide: A brief History (1996) Derek Whitelock Adelaide: From Colony to Jubilee'' (1985) External links A History of the Kingston plan of Adelaide Adelaide, History of