Word: funding
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Dates: during 1920-1929
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Straightway the Senate ratified the Bank Fund Bill...
...Sinking Fund. By a docile vote of 420 to 140, the Chamber authorized the creation of an autonomous sinking fund out of which the National Defense bonds and short term Treasury issues will be amortized. The fund is to be fed by the additional inheritance taxes just voted, by a budgetary allowance and from the profits of the enormous state tobacco monopoly. A non-partisan committee of 20 experts will administer the sinking fund, with the object of restoring confidence in the Government's willingness and ability to meet its obligations without hindrance from the Chamber...
...Senate immediately rushed through the Sinking Fund Bill 281 to 6, exactly as passed by the Chamber...
Since the enacted extraparliamentary administration of the fund by an impartial committee was deemed unconstitutional last week, Premier Poincaré arranged with President Doumergue for the immediate convocation of the National Assembly (Chamber and Senate sitting together) at Versailles, to amend the Constitution...
...Bank Fund. The final fiscal reform measure for which M. Poincaré secured passage last week authorized the Bank of France to create by the purchase of foreign currencies a non-fluctuating monetary reserve for manipulation in defense of the franc. Premier Poincaré declared roundly before the Senate: "The franc has reached a point where it is much below its real value. The Bank of France bills are guaranteed in such a manner as to render unjustified the absurd present rate of the franc in international exchange...