in the north, and Western Sydney Parklands in the west, which is one of the largest urban parks in the world. The Royal National Park was proclaimed on 26 April 1879 and with is the second oldest national park in the world. Hyde Park is the oldest parkland in the country. The largest park in the Sydney metropolitan area is Ku-ring-gai Chase National Park, established in 1894 with an area of . It is regarded for its well-preserved records of indigenous habitation and more than 800 rock engravings, cave drawings and middens have been located in the park. The area now known as The Domain was set aside by Governor Arthur Phillip in 1788 as his private reserve. Under the orders of Macquarie the land to the immediate north of The Domain became the Royal Botanic Garden in 1816. This makes them the oldest botanic garden in Australia. The Gardens are not just a place for exploration and relaxation, but also for scientific research with herbarium collections, a library and laboratories. The two parks have a total area of with 8,900 individual plant species and receive over 3.5 million annual visits. To the south of The Domain is Hyde Park, the oldest public parkland in Australia which measures in area. Its location was used for both relaxation and the grazing of animals from the earliest days of the colony. Macquarie dedicated it in 1810 for the "recreation and amusement of the inhabitants of the town" and named it in honour of the original Hyde Park in London. Economy Researchers from Loughborough University have ranked Sydney amongst the top ten world cities that are highly integrated into the global economy. The Global Economic Power Index ranks Sydney number eleven in the world. The Global Cities Index recognises it as number fourteen in the world based on global engagement. There is a significant concentration of foreign banks and multinational corporations in Sydney and the city is promoted as Australia's financial capital and one of Asia Pacific's leading financial hubs. The prevailing economic theory in effect during early colonial days was mercantilism, as it was throughout most of Western Europe. The economy struggled at first due to difficulties in cultivating the land and the lack of a stable monetary system. Governor Lachlan Macquarie solved the second problem by creating two coins from every Spanish silver dollar in circulation. The economy was clearly capitalist