New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-24
THE POPES PRIVATE FORTUNE.
LEO XIII CALLS 1T THE GUARANTY OF HIS IN:
DEPENDENCE.

LEO XIII CALLS IT THE GUARANTY OF HIS IN.
DEPENDENCE.
Since the dismissal OF Monsignor Folchi, secretary
OF the Papal treasury many things have been wrtten
regarding the finances Of the Vatican. But inroans
have also been made in the course OF time upon 'he
private fortune Of the Pope. A recent letter ITO"
Rome in the Meme Freie Presse' Of Vienna, contains
some interesting statements concerning the monetary
affairs of His Holiness and the he has made OF his
money.
More than the half Of the forty-fve Millions" says
the letter which Pope Plus IN left to his successor
was used in purchasing Roman building bonds ana IN
property Investments because the small rate OF III
terest received from the Rohschd and Blount loans
was not sufficient The building fever attacked the
clerical nobility OF Rome and the golden dreams OF
ropidy developing city crazed the vatican adso'
High prices were paid for bonds of the DRINKING "a'es
Company, Of the omnibus companies OF Rome anu
Palermo OF the BancO dl Roma, etc. Money was III
vested in other undertakings including large loans
made 70 those who superintended the construction OF
the houses outside the gates OF the city, ana the 'cah
Tins became party the financial decay OF the place.
These buildings outside the gates OF the city, which
swallowed up more than 100000 900 lire, hardly brins
in enough money TO keep them in good condiuoh. Az
least two-thiris Of them are unoccuped or uhcom'
pleted and given over to ruin. Indeed IN Di'ter
Irony they referred TO as the ruins OK Tic 'hifu
Rome
price Of some Of the bonds II owned is about looooooo
lire The losses I'm money loaned to the mobiles ana
merchants depends not only upon the goodwill OF inc
debtors bnt also upon the Of the Crisis WHICH
now seems TO have reached its height Prince boh-
compagnie recently repaid OOO'OoO-an act WHICH
brought him much praise rs not even note hau oeei
made out for the money loaned to him. Monsignor
Fo.chi has been held responsible for this careless
financial system His punishment however. In Vatican
crcIes Is considered too Fochs assertion that
he did nothing without the consent Of the Pope, who'
however forgot his commands seems credible as tho
Pope's memory is VIGOROUSLY bad lie Is also ABSENT
minded 10 an unusual degree. This Is not surprising
when his age is taken into consideration. hons'gnor
Dnncell for this reason has the Pope write all MS
directions to him.
"A few wears ago. continues the letter, the Pope
ordered his physician Sgnor Ceccarelli, TO examine
the hospital and asylum which he mad fouhded III
Carpineto. Upon returning TO Rome, CeccaTeih eA-
pressed the belief that 10000 lire would be necessary
70 repair the buildings. The Pope, 1t is said ordered
This sum 10 be expended. and the work was begun.
When the bill handed to him, the Pope was aston
ished and said that he had only promised 10000 lre
A Young count. Of the Noble Guard was about 10
lac married The Pope, who was fond OF HIM, promised
him 600 lire TO pay for furnishing his house. Tie
sum- however, never paid ana when the count
complained of the matter to those near His Holiness,
he was told that the Pope had spoken Of the g but
unfortunately only once He had simply forgotten II.
sterbin the Papa steward II is sad often persuaded
,be pope 10 lend money which. however, Ills Holiness
ALWAYS took from his private purse Az the tlme OF
the impending panic, sterbni was an administrative
councillor OF the Banco di Roma. The bank needed
n million lire. But where was the money TO be OBJ
tanned everything seehieu ul'eI'aiH' Inv i'
source was the Pope.
/. s,crh,ni rode 10 the Vatican, while the other
members of the council. among them Marquis 1heodoi'
the Duke de Bomarzo. Commander Rossehlih, ana
others seated on the balcony Of the bank, awaited W!.n
beating hearts his rcappearancc an m9u. sn,h
Sterhini returned and from afar waved "hlc Siotn
s that his friends might that MS mission hdn pSch
successful The Pope also gave large sums Oh ms
nriv,te fortune TO merchants making no ulncdtnnoo9
ha,vccn his creditors He lent, for instance 4ocoOo
lire IN great landed proprietor, although ne "u Deeh
one Of the friends of Garbadi. The private fortune,
however of the Pope despite the loans, Is sun erea
iii Tor him TO remain he has been the mighuess
man Of Rome. 800, ~, l., 4. ,,, our, ,p,r.-
,,onts lie carries the key himself As Ills Honhess'
has often said IL is the surety OF MS Independence;
To the Pope's private fortune Is due me primoe2 Az
y,endc,j 70 the arts and sciences. Tine Income vi
pn.er,s hence would not be sufficient for these ex.
penditures.'