London, Sept. 21.
The Bill suspending the operation gf Section one of the Gold Standard Saet of 1925 passed through all wages of Parliament to-day and re-Geived the Royal assent.
The Bil was introduced in the House of Commons by Mr. Philip Snowden, the Chancellor of the Exchequer, who explained at some length the reason which led up to yesterday's Cabinet decision, Dppocition motion for the rejection ofthe Bill was tabled by a Labour member. This was defeated by 275 beainst 212 votes.
"Avery encouraging. feature was the Hine adopted by. Mr, Arthur Henderson, the leader "of the Opposition, who indicated that his colleagues were prepared to face the Jealities of the situation. He re-pied to Mr. Snowden's speech with Bu assurance to the Government that. he Labour Party would do its utmost to avoid any action calculated to produce panic either at home or abroad. He agreed with Mr, Snow-Gen that there was not the slightest Justifeation for panic in any shape 'The Bil was read a third time in fie House of Commons and passed Wtnout a °aivision. Te was then conveyed tothe House of Lords, sere it was introduced' by. 'Lord Reading, the Secretary of State for Foreign' Affairs, It passed through gilsits stages in the Upper House do'ewo minutes. It was then placed Ione the King, sotiing the oval #Sfeanwhile, the fact that the vent late to-night,
Laborr Party did not oppose the Bil' ang today's meeting of the Auberal Party summoned to draft a declaration on Free Trade, which i pend issued a statement pledging unwavering support to the National [Government in its efforts to main-in British credit, indicate the desire of the" political parties to sink their differences in the face of} fan emergency national issue, Mr. Snowden's Speech Mr, Snowden, introducing the Bill in the House of Commons, explained that the meagre would not affect free gold market in London and that it "would not. impede the removal of gold. placed for" safe feastody in the Bank of England by foreign governments or baths.. He said that where the British Government. was under obligation. to. pay in gold (such as obligations in terms Jot the gold dollar) it would continue fo meet those obligations, Mr. Snowden expressed the "Govern meny's appreciation to the Governments of the United States and [France for the readiness which they] have expressed. to support British credit. He said, in. outlining fuses culminating in the Govern-tment's decision, that after ascertain ing that certain foreign commit.
Fnot at the present juncture be re-towards Great 'Bra, could falled. vowing. to the financial Situation, in the foreign countries concerned, the Cabinet had to Jeome to' a. decision "based upon information' furnished by the Bank Jot England to the effect that credits [granted to the Bank by France and moron ere about t9 mature and hat the additional credits recently arranged with the United States and French, Governments were practically exhausted.
Mr. Snowden continued declaring that there was no evidence that British nationals bad been sub-Stantially "exporting capital, "He! Said: that drastic steps would be S
Text read from the printed page and cleaned; old type leaves the occasional error.