FRENCH POLITICAL AGREEMENT

Hawke's Bay Herald-Tribune, Volume 81, Issue 9, 4 October 1937, Page 5

FRENCH POLITICAL AGREEMENT

-Press Assn.-

Franc Slumped When Crisis Seemed Immiment EXCITED DEALINGS

(By Telegrapb-

-Copyrig'at.I

(Eeceived 4, 8.45 a.m.) PAEIS, Oct. 2. Expectations of a week-end Cabinet crisis linked with the weakness in the frane seem premature in the light of a reported overnight agreement at a meeting of M.M. Chautemps and Blum and other Socialist Ministers, who prepared a declaration refuting the scare allegations concerning the Bourse, on which there were excited dealings this morning, the franc rolapsing to i474. Cabinet resolved to oppose exchange control, to adhere to a peace policy in collaboration with Britain, and to speed-up production. A communique declares that there is justification for speculation in Freneh currency. The Budget is balaneed and resources are available to meet obligations. In order to ensure increased production, Cabinet authorised M. Chautemps to issue decrees modifying the 40-hour weelc. Cabinet appealed to the workers and employers to refrain from illegalities, especially sit-down strikes. li also approved the tightening up of the surveillance of foreigners and the severest action against foreign agitators, in view of the attempted seizure of the Spanish submarine and bomb outrages in Paris and elsewhere. The frane fell to 152 during the Cabinet meeting and later recovered to 150.