Gympie's name derives from the Gubbi Gubbi word "gimpi-gimpi", which means "stinging tree" and refers to "Dendrocnide moroides". The tree has large, round leaves that have similar properties to stinging nettles. The city was previously named Nashville, after James Nash, who discovered gold in the area in 1867. The name was changed to Gympie in 1868. were the original European settlers. Subsequently, James Nash reported the discovery of 'payable' alluvial gold on 16 October 1867. At the time of Nash's discovery, Queensland was suffering from a severe economic depression. Nash probably saved Queensland from bankruptcy. A memorial fountain in Gympie's Park honours Nash's discovery. The Gympie Gold Rush Festival celebrates the event today. The Gold Rush Festival holds 10 days of cultural events in October. Gold mining still plays a role in the area's fortunes, along with agriculture (dairy predominantly), timber and tourism. The gold rush's rapid development led to streets that are in an irregular fashion.