The Savannah morning news., 1901-01-20

throughout Italy One million dollars a
! year does not seem a very large expense
account for a man with an income OF
over four millions.
The money that remains of the Papal
| revenues, after paying the expenses OF
the Holy See. are regularly Invested In
! foreign bonds and securities once or
twice year Monsignor Merry del Val, the
| Pope's confidential agent, or some highly
trusted prelate like Monsignor Stoner,
but never an Italian by the way, is sent
| to London with the available funds and
they are deposited in the Bank of Eng
| land in the name of the Pope. The officials
| of the Bank advise the Pope as to the
| safest and best securities in which 20
| invest the money and it is usually placed
| in English and American bonds. Some
time ago it was proposed to form an
| American committee, with Cardinal Glib
| bons at the head, to receive money to
be invested In the name of the Pope, and
| to place it in American securities ac-
cording to their best judgment OF its
members. but for some reason the plan,
| although it had the approval OF the Pope,
| was never carried out.
II is stated on the highest authority
| that since 1888, Leo XIII has been able
! to invest some years as high as $JVL-
! 600 and that the annual amount so placed
run much less than 100000. Most Of
the money rests in British bonds and Sc
curities and the income from them al
| ready reaches a very high figure. Owing
| to the fluctuations of the financial mar
| ket American Industrial securities, al
though they pay large dividends, are
| avoided by those who have the placing of
the Pope's money, but large amount of
the invested funds is in American gov
ernment bonds, which are in the posses
sion of Cardinal Mocenni.
Leo XIII has been somewhat of a dis
appointment TO the Roman populace Thy
| look upon him as avaricious and penuri-
Gus, because they were used to the open
handedness and generosity of Plus TX.
when he still possessed the Papal states.
and the present Pontiff is very different.
Very little of Leo XIIIs income Is ever
| expended by him upon his own person-in
fact, his present hobby is economy, and
only short time ago he greatly astonish-
ed his chief gardener by ordering that
all the produce and fruit raised in the
immense grounds surrounding the pom
tifical palace should be sold in the pub
lie market of Rome so as to obtain the
money necessary for their improvement.
In another way the present Pope's ex-
penses are less than were those of his
immediate predecessor. When Leo XIII
was elected each of the Cardinals receiv-
cd a salary of $500 annually from the
Vatican. One of his first acts was to
| issue a decree providing that only those
Cardinals who resided in Curia and who
did not enjoy the revenues of a diocese
were to draw this allowance from the Pa
| pal treasury. Under the present admins
ration many other economical measures
have been introduced. The salaries of
| great number of prelates have been re-
greatly diminished. and the contributions
for schools and colleges in the pontifical
states and in Rome reduced. For this
| latter purpose Leo XIII has comma nded
| the most wealthy religious orders to fur
nish funds. 1t is for this reason that the
Carthuslsn monks pay 100000 a year out
of the income which they derive from the
sale of the famous Chartreuse for the
support of the French College of Santa
cara in Rome, and the Beuedictines have
been obliged to build and support at their
own expense the new university of ST.
Anselmo in the same city.
Leo XIII has certainly succeeded IN
saving more money than Plus TX left at
| his death, and it is estimated that at
| the close of the holy year the contingent
fund of the Holy See amounted to at
least $S0000000. This immense fortune
is carefully protected against any claim
the Pope after his death. This is nee
essary. for at the death of a Pope il is
customary for his nearest blood relations
to take possession of all articles of value
found In his apartments. Another fac
tor is the Italian government, which is
said to be ready to lay hands upon what
ever ponifcal property 1t can. even as 1t
did upon the property of the religious or
ders.
Tha D. kaa
| tune which is derived from the gifts pre-
scented personally TO him by his admirers.
Large additions to his private income are
| occasionally made by the sale of all pre-
| cious articles which accumulate from time
to time. In 1889, when Leo XIII celebrated
his episcopal jubilee. many thousand dol
lars worth of jewelry and other pre-
| cious articles were presented to him and
| shown to the public at an exhibition in
the Vatican All the magnificent church
| Vestments, chalices, monstrances, pixies
and sacred vessels of silver and gold have
since found their way to poor churches
| and converts, but the numerous articles
| of jewelry and loose gems have been dis
! posed of by Monsignor Marzolini, the
| Popes confidential secretary, at private
| sale.
The proceed of these sales went to in
| crease the private fund of the Holy Fa-
| ther. 1t was formerly his custom to keep
| his personal money hidden in a wooden
box behind che book-shelves in his pri-
vate study, but not long ago $62. 900 which
he had placed in this box mysteriously
disappeared. This led the Pope to realize
| that more modern methods for the care
| of his money were advisable and burg
| lar-proof safe, of which he alone knows
the combination, has recently been INSTALL
ed in his apartments
Although / have spoken only of the act
ual money that comes into the control of
the Pope, It sdoes not follow that il rep
resents the whole of his resources. Leo
XIII. Is really the absolute master of all
Catholic Church property all over the
world. In Englsh-speaking countries,
church property in each diocese Is held
In the name of the bishop, who has the
power to sell, mortgage, exchange or do
whatever he wishes with 1t. However. he
dare not do anything without permission
from Rome as he holds his position
| solely at the pleasure of the Pope, whose
hand is actually the control ing one. In
| Catholic countries like Italy, Spain,
France and Austria, ecclesiastical prop
erty Is generally held in the name of the
municipal corporation, but even In such
places the Holy Father exercises power
that places him at the real head of af-
FAIRS. The property OF the religious or
ders Is held as a RUE in the name of
their generals at Rome, but the generals
can be removed by the Pope, so that IN
! he .sRn 80