Fate Of French Government Rests On Gold

Wanganui Chronicle, 29 January 1948, Page 5

Fate Of French Government Rests On Gold

BILL TO ESTABLISH FREE MARKET (N.Z.P.A.—Copyright.) Reed. 6.40 p.m. London. Jan. 28 The French Prime Minister (M. Schuman) last night staked the life of his nine-week-old Coalition Government on the Bill for a free internal market in gold, which the Socialists have decided to oppose. Socialists, according to some Paris reports, are also demanding a fixed rate tor the franc and new currency talks with Britain. M. Schuman, after attending a 21 hour emergency Cabinet meeting, told a midnight session of the National Assembly that his position would become “impossible” if the Bill

was not passed. He asked that It be 1 treated as urgent, and by 373 to 184 votes the Assembly voted to give the Bill debating priority when it meets again this afternoon. The Bill, setting up a free gold market, is the only part of the French devaluation scheme requiring the Assembly's approval, but M. Schuman hrs apparently decided to make the vote on it a test for the whole plan. A French Socialist Party delegation to the Prime Minister demanded ’ that M. Mayer (Minister of Finance) resign or change his policy, says the > “Daily Telegraph's” Paris corres- ; pondent. I Socialist members of the Assembly's > Finance Commission joined with the Communists this afternoon in voting against the Free Gold Market Bill. When the Assembly reconvened at 10 p.m. M. Schuman said the Assembly's refusal to vote for the meastfre would make the Government's continuation impossible. The debate was adjourned until today.