Finance Bill Approved

Hawke's Bay Herald-Tribune, Issue 141, 1 July 1937, Page 5

Finance Bill Approved

—Press A.ssn.-

m. b0nnet given full powers . Sceite in French Seiiate During Debate SOCIALISTS OFFENDED

(By Telegraph

-Copy right./

(Beceived 1, 11.30 a.m.) PARIS, June 30^ The Senate adopted the Finance Bill by 167 votes to 82 after the Finance Commission had unconditionally accepted it by 20 votes to three. Shoufs in the Senate of "pbst it" greeted an explanation by M. Abel Gardey, the Commission 's rapporteur, of why the Senate refused the Socialist Cabinet of M. Blum full powers but granted them to the Radical Cabinet of M. Chautemps. Post it" means that, tinder the law of affichage, the speech will be placarded in every town hall on a public hoatding but though the show Of hands favoured this, M. Caillaux seeured a suapension of the sittifig to decide the question, the motion having so incensed the SocialistS that M. Auriol, the formor Minister of Finance, and Several cob leagues left the Chamber. M. Gardey 's speech amOttnted to a funeral oration on the Popular Front. He argued that M. Blum would have used plenary powers for coercion and nationalisation instead of for seeuring national recovety. Later M. Gardey testilied how touched he was by the compliment of the posting of the motion but as it might create fresh patliamentary confliet, he begged the Senate to cancel its declsion Which, after consultation, was done. The Chamber of Deputies adopted the Finance Bill by 374 votes to 206. Financial circles anticipate that the franc will be allowed to fall to between ' 130 and 135 to the pound and later suddenly brought back .to 125, thus coilfounding speculators and encouraging the repatriation of French capital.