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Tuesday, 22 November 1960

Mr HAROLD HOLT - I can accept that portion of the honorable gentleman'squestion which states that some sections of the press engaged in a programme virtually amounting to hysteria following the announcement of the Government's economic proposals. It would, obviously, be quite impractical to make any sort of assessment of the effect this may have had on individual investors. All I know is that, an opportunity having been given to the public to put its own assessment on the Government's proposals, there has been a> marked revival in the share market which, after all, was a thin market in the first place - a thin market on the down and a thin market on the up. It has been brought tomy notice that one overseas organization with great faith in Australia attempted to make a substantial purchase of Australian stocks when the slump occurred but found it could receive accommodation to the extent of only about one-third of the buying order that it had placed.

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