The People: Reservoir of Confidence

The market is practically everybody's business: not only do more than 15 million people hold shares, but some 120 million have stakes in stocks invested by such financial institutions as banks, insurance companies and pension funds. Understandably, then, the U.S. watched the gyrations of the market with interest and alarm. Yet there was also a remarkable degree of confidence in the basic strength of the nation's economy.

Rumors & Plots. Inevitably, some wild rumors spread: an Arizona investor heard that President Kennedy and Nikita Khrushchev had agreed to disarm; a Washington stockholder had a hot tip that the U.S. was...

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