1862, Clara Aspinall, Three Years in Melbourne, 2010, Forgotten Books, page 235,
Most of the Squattocracy are members of “The Club,” and therefore know who are the chief agreeable idlers (I mean gentlemen who are not oppressed with business) to whom to introduce a stranger.
Source: wiktionary
They held respected positions and wielded power in country towns, but in the wider district the pastoral squattocracy was still considered powerful and important. That attentive second echelon of society liked, where possible, to be seen to be associated with the squattocracy.
Source: wiktionary