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 year does not seem a very large
yexpense- account for a man with an in
come Of over $40OO,000.
z~aFhe 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 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
fcials 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 Englishs 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 1t
had the approval Of the pope, was never
carried out. }e"
1t is stated on the highest authority
that since. 1888 Leo XIII. has been able
to invest some years as high as Sc, 000,-.
COO, and that the annual amount so plac-
ed runs never less than 81 10000 Most
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 theeplacing
Of the pope's money, but a large amount
of the invested funds is insAmerican
government bonds, which are IN the pos.
session s1efs Cardinal Mocenni.
Leo XIII. has been somewhat of ads
appointment to the Roman populace
They look upon him as avaFtcieus and
penurfot1s, because they We're used to tn !.
-handedness and generosity of Plus
TX, when he still possessed the papaI
4statass. and the present pontiff is very
| different. Very little of Leo XIII IS in
| eone7is 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 pontihcal palace SHOULD be
sold Iii the public market Of Rome, SO
as. to obtain the money necessary for
| their Improvement.
| In another way the present. pcpes eX-
! penses are less than were those Of his
immediate predecessor When Pope Leo
! XIII, was elected each of thes1ardinals
received a salary ~$aj5sa 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 a
diocese We're to draw this allowance from
the papal treasury Under the present
administratio ton many other economical
mea s4Hes have been introdu1 ed. The
salaries of a great number of prelates
have been reduced the number Of Vat can
di11lfT ahnI ~
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. 1t Is for
this reason that the Carthusian monks
pay 600 year out of the income
| which they derive from the sale of tho
famous Chartreuse for the support Of
! of the French College of Santa Clara in
| Rome, and the Benedictines have been
! obliged to build and support at their own
| expense the new University Of ST. An
| Selma. An the came city. '.
| Leo XIII. has certainly succeeded in
saving more money than Plus TX. left at
| his death, and it Is estimated that at the
l-close of the holy year the contingent fund
| of tha holy see amounted to at least
[ $50, 600, 600. 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 ora pope it Is custo-
| mary for his nearest blood relations to
| take possession of all articles of value
| found in his apartments. Another fac
I tor is the Italian government, which Is
said to be ready to lay hands upon what
! ever pontifcal property it can, even as
it did upon the property of the religious
| orders.
/ The pope has, however. a personal for
i tune, which is derived from the gifts
| presented personally to him by his ad-
| mrers. Large additions to his private
income are occasionally made by the
I sale of all precious articles which, &C.
! cumulate from time to time. In 1889.
| when Leo XIII. celebrated his episcopal
| jubilee, many thousand dollars worth of