The times. [volume] (Richmond, Va.) 1890-1903, 1892-08-24
CARDINAL RUGGIEB DISMTssED.
Great Excitement in Church Circles on
Account Of II.


Account Of IL.
RosH, August 23.-Great excitement has
been caused by the dismissal Of Cardinal
Ruggier, Project Of Financial Affairs of the
Propaganda, and who has been looked
upon by many as the probable successor of
Pope Leo KILL 10 IS said tho Pope himself
ordered Buggier's dismissal. being con-
vinced as a result Of inquiry that Rugaier and
not Monsignor folchi WAS the really guilty
party 10 connection with tho misstatements,
10 use a mild term. Tor which Monsignor
folohi was dismissed from the Papel service
about year agO The dismissal of FOlchi
was brought about, 1t is said by Cardinal
huggier
Fochi was Vice Chamberlain to the Pope
and had control Of the Papal funds 10
was alleged that ID the winter OF l8e0l9
NOnsignOr fOlchi supported by Prince
BuOncampagnI and Baron Lazzaroni. re-
solved. ia order 10 save the BancO Ii Roma,
IN which the Vatican held ten thousand
out of twelve thousand shares, besides other
securities, 70 establish nrst in Paris and
London, and afterwards Ia Rome. Berlin
and New York. syndicate Of Catholic
banks with the object Of absorbing the
financial societies OF Rome that were known
% be in a disastrous condition. and % re-
store them 20 vitality. while nj the same
time raising the value Of the deprecia-
ted securities. Above all they wanted
10 save tho BancO di Roma. intending
az they evidently did. entirely 20 recon-
struot il. Tho BancO di Roma was created
with a nominal capital Of SIX million lire
(st,200 000) divided as already stated
into ~ 900 shares. But the real working
capital consisted Of three mi. lire
(SGO0, OO0) A Monsignor Folchi had
taken Oh account OF the Vatican ten thou
sand shares. The administration Of Peters
Pence found itself involved nOmiualy %
the extent OF hye million hre. although
really 20 the extent Of two million i've nun
drod thousand lire.
Mousignor Foichi had moreover de-
posted in the bank the sum Of three mil
lion lire. At that time financial circles in
Rome were Interested III supporting the
creation Of these Catholic banks. and they
were desirous OF helping this financial move
ment in order 10 put the deprecated So
curties on trmer footing. Consequently
Monsignor tolche proposed 10 the
committee Of cardinals then a pure con-
sultiye body that the Vatican should enter
into the combine TO tie exteut Of 3 OJ0 600
lire. tie warmly supported the project.
urging that the Roman securities oi.the Vat
lean and the millions of ire invested in the
Banco di Romo could not be saved IA anv
other way. Cardinal kuggior.it was claimed.
strongly opposed the proposition and
protested against il with such success that
the committee soon rallied 20 his support.
However. as the committee was merely con-
sultive aud had no authority u veto the
plan, Monsgnor folchi ignored them and
carried out. IN conjunction with Laz-
zaroni and Prince buOncampagui.
tho financial project which had been
submitted and rejected BY tho COMMITTEES.
Monsgnor fochi commenced by sending
part Of the money 70 Paris. where the hrst
OF the proposed banks named lie Credit WAS
founded But as the Pope had not been
informed OF this arbitrary speculation
aud as the committee Was only
informed OF il when II had taken
place. Monslgnor Folehie was afterwayd
dismissed aud the committee hitherto
purely consultiye became deliberatiye
body. Such was the story made public az
the time of FolchIs dismissal. Later in
vestigations. however. which have been
quietly going on. appear 10 have ex0uerated
folch aud implicated Ruggier. There is
great excitement Id Chusch circles and il is
eensrally believed that tremendous scan-
dal is awaiting disclosure.