COMPROMISE REACHED

Poverty Bay Herald, Volume LXIII, Issue 19135, 2 October 1936, Page 5

COMPROMISE REACHED

FRANC DEVALUATION. SENATE AND CHAMBER (Reed. Oct, 2, noon.) LONDON, Oct. 1. Reports from Paris state that the French Senate* adopted the Devaluation Bill as radically amended by the Finance Commission, which excluded the compensation clauses. The Chamber of Deputies re-adopted the complete text of the bill by 361 votes to 217. It was stated that the Government would probably make the entire adoption of the bill by the Senate a matter of confidence. The bill went back to the Senate, which met at- 9.30 a.m. and adjourned for an hour to enable a formula of conciliation to be considered. The Minister of Finance, M. Auriol, said efforts were being made to reach a new compromise on the bill, enabling! an agreement between the Chamber and the Senate and providing that no decision regarding wages and prices would bo made without the approval of the National Economic Council, and also specially providing for compensation for ex-servicemen. At an afternoon sitting, the Senate, by a show oi""h'nnds, adopted the amended bill, which was returned to the Chamber. The Finance Committee of tho Chamber adopted the Senate's compromise, and later the Chamber passed tho amended Devaluation Bill. The compromise invests the Prime Minister, M. Leon Blum, with authority to suppress unreasonable advances in prices. Both the crowds queuing up for ad' mission to the Senate and the general jjiiblic were keyed rp to the <*rave political # outlook, and were rendered more nervous when the authorities began the first of their general air-raid warning experiments. Sirens shrieking city-wide drowned even road traffic.