After an all-night sitting, the Chamber of Deputies passed the 1925 budget by 410 to 31 votes.
The budget was originally planned by Senator Etienne Clementel, Premier Herriot's Finance Minister (TIME, Oct. 13), but the Herriot Government fell (TIME, Apr. 20) before it was voted. When Joseph Caillaux stepped into Senator Clementel's shoes, he had to reconstruct the budget. The budget :*
Francs
Receipts 33,175,239,000 ($1,658,761,950)
Expenditures..33,164,000,000 ($1,658,200,000)
Surplus .... 11,239,000 ($561,950)
* The budget is balanced on paper this year by treating money to be received from Germany as an asset actually in hand.
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