Successive governors of New South Wales failed to control the excesses of the officers of the New South Wales Corps, which became known as the Rum Corps. They had a monopoly over the trade in rum and much of the new colony’s food. Rum (a name given to any strong spirit) was used as currency and was both imported and manufactured locally. Governor Lachlan Macquarie eventually introduced a licensing system and established a stable coin currency which curbed the trade.