Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-01
POINCARE Finance :
BILL VOTED IN FULL
Premier's Next Move May Be-
Calling National Assembly
at Versailles.


PARIS, July 31-Premier Pom
cares national union cabinet emerged
victorious tonight after day-long
battle with the Chamber OF Deputies
opposition. The final vote Of conf
dence giving the premier majority
of 81 came when the Deputies adopted
the bill in its entirety, providing
measures designed to stabilize the
financial position Of the country. The
vote was 295 TO 1873.
Then the government introduced a
bill for creation of a sinking fund,
and the Chamber adjourned until
Wednesday. In connection with this
bill, it was learned that Premier Poin-
care has in mind the convocation Of
the Senate and Chamber az a National
Assembly, believing that this pro-
cedure was necessary to preserve the
existence and functioning Of "A sinking
fund from the "vlcissitudes of par
liamentary regime" and afford pro-
lection from changes which the
Chamber might bring about through
the passage of ordinary bills. The
National Assembly would sit at Yer
sailles, instead of Paris.
At the close of todays session. the
impression in the Hobbies was that in
asmuch as NJ. Poincare apparently
had not consulted with President
Doumergue about the proposed Ma
tional Assembly TO deal with the sink
ing fund for amortization Of the ma
tional floating debt. making il part
and parcel of the constitution, there
is likely TO be a fairly animated min
isterial council at Elysee Palace Mon
day and Tuesday.
Nevertheless. NJ. Poincare's friends
maintain he will insist upon making
the proposed sinking fund ''parlia-
ment proof" thereby assuring hold
ers of state securities that the money
would be forthcoming To anortize the
bonds In future. regardless Of what
party is in power.
Opening the debate on the finance
bill, the premier said that delay in
the adoption of a definite financial
program entailed a loss Of nearly
100000 francs $4,000 a day.
Hhen the Chamber voted, $50 to $50.
to proceed Immediately to discussion
of the bill and then voted favorably
on the first article, it was taken for
granted that, despite the opposition.
the bill as whole would soon be
adopted.
Deputies Pay Increased.
In order to facilitate the passage
of the measures, which comprise a
raise In the pay of some $50, 900 func-
tionaries, the government did not OPP
pose an amendment raising the pay
Of deputies from q 900 francs CS675)
to $4,000 francs tS1,125) annually.
The deputies voted the increase by
mere show Of hands, the vote not
being recorded.
A bill introduced by Minister of
Labor Fallieres for credits for the
construction Of workmen's homes at
reasonable cost was adopted without
debate.
Will Raise Bond Interest.
The government has decided to
raise the interest rates on national
defense bonds from ) per cent to ~
or 6 per cent. beginning August /.
The action will be taken in order to
cut down on the number of bonds
being presented for reimbursement.
In government circles it also was
explained that the increase has been
ordered in order to keep pace with
interest charges. The measure VIII
be only temporary.
The French National Assembly
joint session of the Senate and Cham
Der of Deputies-meets every seven
years to elect the President of the
republic. No other sessions are held
except those called for the purpose
OF making changes in the constitu-
tional laws, and these are very in
frequent.