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Wednesday, 25 February 1959

Mr HAROLD HOLT (HIGGINS, VICTORIA) (Treasurer) - I do not have in my mind the details of the particular matter to which the honorable gentleman refers, and I would seriously question whether the course that he proposes is one that should commend itself to a Commonwealth government. The purpose of exchange control which, I imagine, is the area of administration to which the honorable gentleman directs my attention, is to protect the state of our own currency, overseas balances, and so forth. Tt was not intended, I imagine, to interfere in conflicts between private commercial interests. I shall examine the question closely and see whether I can give the honorable gentleman a more detailed reply to the points he has raised.

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