The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1901-02-02
CHAS, III. SMILEY.
70 e. Twenty-second ST.,
Chicago, Illinois.

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
f1clals Of the bank advise the pope as
10 the safest and best securities in which
to invest the money, and it is usually
placed in English and American bonds.
some time ago 1t was proposed to form
an American committee. with Cardinal
Gibbons at the head, to receive money to
De invested IN the name of the pope and
to place it in American securities accord
ing to the best judgment of its members,
but for some reason the plan. although it
had the approval Of the pope, was never
carried out.
that since 1883 Leo XIII. has been able
to invest some years as high as $9.O0O-
CoO, and that the annual amount so plac-
ed runs never less than 81 100000 Most
or the money rests in British bonds and
securities, and the income from them al
ready reaches very high figure. Ow-
Ing to the. fluctuations of the financial
market. American industrial securities,
although they pay large diyidends. are
avoided by those who have the placing
OF the pope's money, but a large amount
OF the invested funds is in American
government bonds, which are in the pos
session of Cardinal Mocenri.
Leo Kill. has been somewhat Of a dis
appointment to the Roman populace.
They look upon him as avaric Gus and
penurious, because they were used to tn !.
open-handedness and generosity Of Plus
IN, when he still possessed the lsapal
states, and the present pont: # is very
different. Very Het!e Of Leo Kills in
come is ever expended by him upon Is
own person; in fact, his present rob :
is economy, and only a short lime ago
: he greatly astonished his chief gardener
by ordering that al the p oduce AMI
fruit raised in the immense grounds sur.
rounding the pontifica al ra.ace SHOULD be
sold in the public market OF Rome, 50
as to obtain the money necessary TO-
their Improvement.
In another way the pre- sent pipes eX-
penses are less than were those of ri
immediate predecessor. When Pope !1lo
XIII. was elected each of the cardinal ;
received a salary of $4,5C0 annually from
the Vatican. One OF his first acts was
to issue decree providing lat only
those cardinals who resided n Cur:a ana
who did not enjoy the revenues Of
diocese We're to draw this allowance from
the papal treasury. Under the present
administration mary other econom cal
measures have been in.rcdu ed. T.2e
have teen reduced, the number cf Vat c n
employees greatly diminished, and the
contributions for schools and colleges in
the pontifical states and in Rome re-
duced. For this latter purpose Lei XIII.
has commanded the more wealthy Ie4i-
gious orders to furnish funds. It is for
this reason that the Carthusian monks
pay S2OO.CCO a year out Of tie income
which they derive from the sale of the
fay VIZ SO
Of the French College of Santa Clara m
Rome, and the Benedictines have been
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 TX. left d.
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, 100000. 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 pontifical property it can, even as
l.
orders
The pope has. however, a personal for
tune. which is derived from the gifts
presented personally to him by his adj
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
teWelry and other precious articles were
presented to him and shown to the pub
lie at an exhibition in the Vatican. All
the magnificent church vestments. chal-
ices. monstrances, pixies and sacred yes
sells of silver and gold have since found
their way to poor churches and converts;
but the numerous articles of jewelry and
loose gems have beeen disposed of by
Mgr. Marzolini. the pope's confidential
secretary, at private sale.
The proceeds of these sales went to in
crease the private fund of the holy fa-
ther. It was formerly his custom; to
keep his personal money hidden in
wooden box behind the book shelves in
l'is nri1.a to Gtl1du- h11t not long a1t, $50 Dn1