M. BLUM’S BILL PASSED

Southland Times, Issue 23228, 17 June 1937, Page 5

M. BLUM’S BILL PASSED

FRENCH FINANCIAL PROGRAMME DEPUTIES GRANT FULL POWERS (United Press Assn.—Telegraph Copyright) (Received June 16, 11.55 p.m.) PARIS, June 16. After sitting all night the Chamber of Deputies at 6 a.m. approved by 346 votes to 247 a financial programme introduced yesterday by the Prime Minister (M. Leon Blum). The Government decided to stake its life on a Bill demanding full powers to deal with the financial situation, M. Blum stating simply: “Either you vote for me or for the banks.” The Government demands authority to take by decrees all the necessary steps to assure the restoration of public confidence and to combat attacks on currency and public credit. The Senate will probably be reluctant to give M. Blum a blank cheque. In an atmosphere of acute anxiety the Chamber, by 338 votes to 230, agreed to immediate discussion of M. Blum’s plan, which was embodied in a brief Bill. , At 5 a.m. it was announced that the Communist deputies had decided to support the Bill, thus assuring M. Blum victory; the Communists had previously decided to abstain from voting. •_ The powers sought by the Government would enable it to deal with shortage of revenue and possibly stabilization of the franc.