Article: The formation of the party was formally announced at Sydney Town Hall on 31 August 1945. It took the name "Liberal" in honour of the old Commonwealth Liberal Party. The new party was dominated by the remains of the old UAP; with few exceptions, the UAP party room became the Liberal party room. The Australian Women's National League, a powerful conservative women's organisation, also merged with the new party. A conservative youth group Menzies had set up, the Young Nationalists, was also merged into the new party. It became the nucleus of the Liberal Party's youth division, the Young Liberals. By September 1945 there were more than 90,000 members, many of whom had not previously been members of any political party.

Question: Where did the name "Liberal" come from?
in honour of the old Commonwealth Liberal Party