Evening star., 1937-06-29
CHAUTEMPS WINS
CONFIDENCE VOTE.
IN FINANCE CRISIS.
Aid of U. S. and Britain
Sought to Stem Flow
of Gold.
FRANC DEVALUATION
GENERALLY EXPECTED
Banks Suspend Operations in For
eign Exchange, However Tour.
lists Are Not Inconvenience.

France. bound NTH United States
and Great Britain by tri-partite
agreement designed to equdltse cur
rencies, frequently has resorted to
terms OF pact recently to dUoid
complete financial collapse created
by unsettled ,oorld conditions. Eng
land also has asked increased sta
bilization fund to balance money.
By the Associated Press.
PARIS, June 29-The new govern
ment OF Camille Chautemps, strug-
Cling to save Frances financial struc-
ture, won a vote of confidence today
from the Chamber of Deputies, 393
to l42.
Chautemps won the vote on his de-
mand that Chamber questioning OF
the government be postponed until his
urgent demand for sweeping financial
powers is disposed of. This demand
will be voted on later.
He is asking for the necessary pow
ers" to re-establish Frances fiscal
structure on firm basis and restore
the country's confidence in itself by
ending speculation abuses conserving
gold reserves, balancing the budget
watching over prices and "reviving ma
tional economy
U. S. Aid Sought.
The new Peoples Front government
in the financial crisis that caused
Franca temnororily IN lo,vo .bo ,oIl
standard, is seeking aid of the United
States and Great Britain to stem the
flight Of gold from France
Parliamentary circles disclosed this
was one Of the first acts of the week
old government of Premier Chau-
temps to deal with the financial
crisis
Members Of the Chamber of Deputies
said also that Rene Brunei, under
secretary of state for finance. had in
formed them the government had
advised the United States and Great
Britain "of its desire to disengage the
franc from the present parity with
the dollar and pound"
They added that no details for
accomplishing this had been worked
out as yet.
Exchange Operations Suspended.
Paris banks suspended operations
in foreign exchange today, but tourists
were not inconvenienced. They were
permitted to buy enough foreign
money for travel needs on the basis
Of Yesterdays quotations.
The statement on the governments
position came after reports were cir
culated in parliamentary circles that
the franc might be forced down to the
level that existed during the ad-
ministration of the late President
Raymond Poincare-25 to the dollar,
or 4 cents for each franc, half cent
less than at present.
Socialist deputies, after a session
of their parliamentary bloc this morn
ing preliminary to Chautemps' plea
for sweeping decree powers, said Rene
Brunei, undersecretary of state for
finance, had told them the conversa-
tions looking toward British and
United States help already had been
started
The meeting was called behind
closed doors to decide the Socialist
attitude toward the new government S
financial policies.
Details OF the measures proposed
to the United States and Britain were
not disclosed.
Brunei was quoted as saying that
new tax measures contemplated by
the government would bring in 2,000.-
100000 francs (about $4,000, ,000)
annually to help the regime out of its
fiscal morass.
The government, acting amid tenn
porary suspension of gold and foreign
exchange payments for the protec-
ton of the franc, drafted its dec
laration for seeking parliamentary
approval of future financial steps
This declaration called on Parlia-
(See GOLD. Page A-3.)