[2] The Lyons government won three consecutive elections, pursuing a conservative fiscal policy of balanced budgets and debt reduction, while stewarding Australia out of the Depression.

Lyons death in April 1939 saw Robert Menzies assume the prime ministership on the eve of World War II.

The Fadden government lasted just 40 days, before the independents crossed the floor bringing Labor's John Curtin to the prime ministership just prior to the outbreak of the Pacific War.

[6] From 1942 onward, Menzies had maintained his public profile with his series of "Forgotten People" radio talks, similar to US President Franklin D. Roosevelt's "fireside chats" of the 1930s, in which he spoke of the middle class as the "backbone of Australia" but as nevertheless having been "taken for granted" by political parties and of being effectively powerless because of lack of wealth on the one hand, and lack of organisation on the other.

[7][8] Outlining his vision for a new political movement in 1944, Menzies said: "...[W]hat we must look for, and it is a matter of desperate importance to our society, is a true revival of liberal thought which will work for social justice and security, for national power and national progress, and for the full development of the individual citizen, though not through the dull and deadening process of socialism.

John McEwen replaced Arthur Fadden as leader of the Country Party in March 1958 and the Menzies-McEwen Coalition was returned again at elections in November 1958 – their third victory against Labor's H V Evatt.

Menzies stood for office for the last time in the November 1963 election, again defeating Calwell, with the Coalition winning back its losses in the House of Representatives.

[11] After winning office in 1949, Menzies fulfilled his promises to end rationing of butter, tea and petrol and provide a 5 shilling endowment for first born children, as well as for others.

Menzies remained a staunch supporter of links to the monarchy and British Commonwealth but formalised an alliance with the United States and launched post-war trade with Japan, beginning a growth of Australian exports of coal, iron ore and mineral resources that would steadily climb until Japan became Australia's largest trading partner.

The agreement carried political risk for the Menzies government, because memories of atrocities perpetrated on Australians by Japan in World War II were still strong in the community.

Britain meanwhile was negotiating entry into the European Economic Community in the early 1960s with major implications for Australian trade, which had previously enjoyed preferential treatment in the UK.

McEwen was active in maintaining tariff protections for agriculture, mining and manufacturing, which he believed would sustain employment and contribute to national defence.

[14][15] In the early 1950s, external affairs minister Percy Spender helped to establish the Colombo Plan for providing economic aid to underdeveloped nations in Australia's region.

From 1959 to 1960 Australia experienced something of a boom, spurred by overseas speculators and high domestic spending – resulting in recession by 1961, following a "horror" mini-budget designed to slow the economy.

[19] Although it had popular support, for many it went too far in such measures as allowing the disqualifying of declared Communists from public offices, or industries considered vital to defence.

Early in 1951 however, the High Court declared the Act invalid for unconstitutionally interfering with civil liberties and property rights.

[21] Australia signed the official Peace Treaty with Japan in San Francisco in 1951, but by this point, the world had entered a new and tense period in international relations – the Cold War.

[19] With the memory of Japanese expansionism fresh in the Australian experience, and with the commencement of the Cold War seeing the Soviet Union dominating Eastern Europe, the Chinese Communist Party winning the Chinese Civil War in 1949 and Communist North Korea invading South Korea in 1950, Australia sought security outside its traditional allegiance to Britain.

[20] In 1951, the first call ups were made under the National Service Act, which provided for compulsory military training of 18-year-old men, who were then to remain on the Army Reserve for five years.

[19] The Menzies government entered the first formal military alliance outside of the British Commonwealth with the signing of the ANZUS Treaty between Australia, New Zealand and the United States in San Francisco in 1951.

External Affairs Minister Percy Spender had put forward the proposal to work along similar lines to the NATO Alliance.

[3] Menzies voiced support for the subsequent Anglo-French military operation in Egypt, which resulted in a humiliating withdrawal and the resignation of the British prime minister, Anthony Eden.

Menzies and Australians in general remained deeply loyal to the institution of the Monarchy in Australia and the 1954 Royal Tour by Queen Elizabeth II and her consort, Prince Philip was greeted by wild enthusiasm across the continent.

[19] On a later Royal Tour in 1963, Menzies famously and effusively praised Queen Elizabeth by quoting an Elizabethan era poem: "I did but see her passing by and yet I love her till I die".

[31] In 1950 External Affairs Minister Percy Spender instigated the Colombo Plan, under which students from Asian countries were admitted to study at Australian universities, then in 1957 non-Europeans with 15 years' residence in Australia were allowed to become citizens.

When Menzies assumed office, Aboriginal people were still excluded from voting in Federal elections in Queensland and West Australia.

Menzies introduced the Commonwealth scholarship scheme in 1951, to cover fees and pay a generous means-tested allowance for bright students from lower socioeconomic groups.

Melbourne hosted the Olympics and iconic Australian performers like Barry Humphries, Johnny O'Keefe and Slim Dusty emerged in the arts scene during the 1950s.

Menzies was Knighted in 1963, and was honoured in 1965 by being appointed to succeed Winston Churchill as Constable of Dover Castle and Warden of the Cinque Ports.

[40] Menzies' second period as prime minister lasted a record sixteen years and seven consecutive election victories and ended in his voluntary retirement on 26 January 1966, aged 71.