EMERGENCY BILL PASSED

Rotorua Morning Post, Volume 1, Issue 26, 23 September 1931, Page 3

EMERGENCY BILL PASSED

Press Association

'Post" Special Service.

— Copvrieht. i

By Telephone — '

RUGBY, Monday. ; Immediately after question time in j the House of Commons the Prime Minister introduced a three clause i Bill to amend the Gold Standard Act, 1925. The second reading was moved by Mr. Philip Snowden, and then Mr. i Arthur Henderson announced that 1 the Labour Party would not oppose the Bill. In the House of Lords a Govern- \ ment statement was made by Lord j Reading. The Bill provides for the suspen- j sion "until His Majesty by proclama- j tion otherwise directs," of the section of the Act of 1925 which requires i the Bank of England to sell gold at a fixed price. The third clause authorises the Treasury to take such measures as may be expedient in connection with the exchanges and difficulties from the suspension of the gold standard. I The Independent Labour Party i group moved the rejection of the Bill ' on the ground that there was no pro- t vision for checking a rise in the I cost of living. Mr. Henderson and other leading members of the Opposition did not Support the motion and the closure was applied to the debate. The Bill was read a second time by 275 to 112 and passed a third reading without division. In the House of Lords 14 peers passed the Bill through all stages in a few minutes without discussion. A Royal Commission immediately signified the Royal Assent.