A sensation was created in the Senate yesterday when M. Leon Blum, vice-Premier without portfolio, declined to read the ministerial declaration on learning that the President of the Senate, M. Jules Geanneney, intended to make a statement which he (M. Blum) regarded as a public disavowal of his ministerial colleague, M. J. B. Lebas, for attacking the Senate in a speech at Roubaix on June 27. M. Blum returned to his home, and M. Albert Sarraut, read the ministerial declaration.
The Bourse, closed yesterday until a date to be named later by ministerial decree, will not re-open today.
Though M.' Chautemps asked assent for allowing the franc to drop to 125 to £1, some circles believe the'Government preferred 150 to £1. Symptomatic of confusion of reports on the Government's intentions, is that M. Bonnet is stated Yo have told the Chamber's Finance Committee that the three main planks. of his reforms were an increase of Fré 100 milliard in the limit of bank advances to the State, readjustment of taxes, and to allow the frane to find its own level.
M. Bonnet, in outlining his programme, emphasized that the Budget must be balanced and said the Treasury next year would need Frs. 30 milliards, thus necessitating new borrowings from the Bank of France and entailing modification of the existing monetary laws.
M. Bonnet declared he would main-fain all social reforms already voted.—Heuter.
Text read from the printed page and cleaned; old type leaves the occasional error.