The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-27

distributed every year by the pope in
Rome and throughout Italy. One million
dollars a year does not seem a very large
.expense. account for man with an in
come Of over $4,OOO,OOO
'r- 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 a year Mgr. Merry del Val, the
pope's confidential agent, or some highly
trusted prelate like Mgr. Stonor, 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 Of
ficials of the bank advise the pope as
to the safest and best securities in which
to 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
Gibbons at the mead, to receive money to
be invested in the name of the pope, and
to place it in American securities accord
ing to the best Judgment of it's members,
but for some reason the plan, although it
had the approval Of the pope was never
carried out. sr
1t is stated on the highest authority
that since 1883 Leo XIII has been able
to invest some years as high as SO, co.,
COO, and that the annual amount so plac-
MOSC
of the money rests in British bonds and
securities, and the income from them al
ready reaches a very high figure. Ow-
ing to the fluctuations of the financial
market, American industrial securities
although they pay large dividends, are
avoided by those who have thecApla cling
| of the pope's money, but large amount
of the invested funds is inFAmerican
government bonds, which are In the pos
| session. of, cardinal MOpannf
Leo XIII. has been somewhat of ads
| appointment to the Roman populace.
! They look upon him as aVaFicieus and
! penurious, because they were used to tn ,
| open-handedness and generosity of Plus
| TX, when he still possessed the papal
| ,statas,s and the present pont;f is very
| different. Very little of Leo Kills in
eome~is ever expended by him upon his
| own person; in fact, his present hobby
| is economy, and only a short time ago
| he greatly astonished his chief gardener
by ordering that all the produce and
! fruit raised in the immense grounds sur
rounding the pontifical palace SHOULD be
| sold In the public market of Rome, SO
as to obtain the money necessary for
! their Improvement.
In another way the present pcpe's ex-
! penses are less than were those Of his
| immediate predecessor when Pope Leo
! XIII. was elected each of thesseardinals
| received a salary of $4y5s9 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 We're to draw this allowance from
| the papal treasury. Under the present
| administration many other econom cal
mea sHres have been introdu, ed. The
salaries of a great number of preIates
have Eeen reduced, the number Of Vat can
| employees greatly diminished, and the
contributions for schools and colleges In
! the pontifical states and in Rome re-
! duced. For this latter purpose Leo XIII.
! has commanded the more wealthy reli-
! gious orders to furnish funds. It Is for
j this reason that the Carthusian monks
| pay 5000 900 a year out of the income
! which they derive from the sale of the
famous Chartreuse for the support of
! of the French College of Santa Clara IN
| Rome, and the Benedictines have been
J obliged to build and support at their own
| expense the new University of St An
| selmo in the same city.
| Leo XIII has certainly succeeded in
saving more money than Plus * left al
| 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
/ $50, 0000 900. This immense fortune is care
! fully protected against any claim that
might be advanced by the family of the
| pope after his death. This is necessary,
| for at the. death of "a, pope it Is custo-
! mary 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 i,
said to be ready to lay hands upon what
! ever pontifcaI property it can, even as
it did upon the property of the religious
! orders
| The pope has, however. a personal for
/ tune, which is derived from the gifts
| presented personally to him by his ,aj-
| mirers Large additions to his private
| income are occasionally made by the
/ sale Of all precious articles which, ac-
| cumulate from time to time. In 1889.
| when Leo XIII. celebrated his episcopal
| jubilee, many thousand dollars worth of