FRENCH FINANCE

Poverty Bay Herald, Volume LXIV, Issue 19364, 30 June 1937, Page 5

FRENCH FINANCE

VOTE OF CONFIDENCE SUPPORT TO CABINET CLOSING OF BOURSE CHECK ON SPECULATION (FJ--f. Tfl. Copyright—Uniled Press Assn.) (Reed. June 30, noon) LONDON, June 29. It is officially announced in Paris that the Bourse closed to-day until a date to be fixed by the French Minister of Finance, M. Bonnet. It is understood the object of closing the Bourse is to check speculation while the Government's financial legislation is being debated. According to the Paris correspondent of the Daily Mail, M. Bonnet intended to demand unlimited powers to deal with the finance crisis. The Cabinet approved of M. Bonnet's proposals which will be rushed through Parliament in 24 hours. A meeting of Radical Socialists expressed absolute confidence in the Government. The Socialists have not decided their attitude. Before a crowded Chamber, the Premier, M. Chautemps, read a Ministerial statement and announced that he would not leave the Chamber or the Senate until the necessary bills were approved. The Premier declared that he held a decree for adjourning Parliament. He asked the Chamber to postpone the debate on general policy and proceed with the bills granting the Government full powers. The Chamber passed a vote of confidence in the Government by 393 to 142 votes. The sitting was suspended to allow the Finance Committee to examine M. Bonnet’s proposals. NO CHANGE IN PACT WASHINGTON ASSURANCE NEW YORK, June 29. Mr. Henry Morgenthau, jun., Secretary of the United States Treasury, in a statement to the New York Times, said that no change in the triparite agreement had been caused by the French situation. This is interpreted to mean that Britain and the United States are cooperating to offset any international repercussions arising from the' French monetary crisis.