The Washington herald., 1909-05-23
ABDUL'S HOARD SAFE
Why Rulers Always Intrust Their Money to Banks in
Foreign Countries

ly one-fifth OF the cultivated area IS en-
braced in what is known as the Crown do
main.
As soon as ever a monarch loses his
crown his civil list is stopped, no matter
how much he may be morally entitled
thereto through the contract which he
has virtually made with the nation al
the time Of his accession. II his dynasty
happens 10 be OverthTORn at the same
time, the revolutionary government
promptly proceeds to seize the Crown
property. regardless Of the fact that the
fallen ruler has inherited Il from a long
line OF ancestors. and that It has been
owned by his family often for many hun
dreds Of years.
The revolutionary government usually
puts forward the argument that the basis
Of the right OF the fallen dynasty 20 the
property was its possession OF sovereign
power; that without the latter tie reign
Ing house would never have been able 10
retain its domains. and that since the
sovereignty has passed from the family
its title TO the Crown property ceases.
1pse facto. and becomes vested IN the
state.
OF course. there is always confusion as
to what constitutes Crown property and
what private property Thus when the
King and Queen of Naples were driven
from their capital all the contents Of
their palaces, their silver. even the laces
and fans Of the Queen were seized and
cOnnScaIed-
Only two years ago the French trfhu-
mails gave judgment against ex-Empress
Eugene who claimed ownership 10 al
sorts OF historic and artistic treasures
and bric-a-brac in the possession OF the
various museums and national galleries
OF France, and adOrning the palaces Of |
the Elysee, Of RambouiHet. and OF Com |
piegne, on the ground that they had been
the private property OF her husband. Ma /
pOle0n III, while at the present moment
the question is being debated in the
Chamber OF Deputies OF Brussels as TO 1
whether or not King Leopold should be /
permitted TO sell the magnificent coIlec- 1
ton OF paintings. including some almost /
priceless old masters. which he and his 1
father. Leopold /. have formed at their |
suburban palace OF Laeken. These pic l
tures have been acquired. not by the 1
state, but by the two Kings. with money 4
taken from their oWn purse But since /
the latter has been repienished every. year /
by The CiTn list il is argued that the 4
state has right 70 the pictures; that 4
they are Crown property. and cannot be /
aiienated.
The late Due d'AunaIe ct the time
when the private estates and private 4
property Of the House Of Orleans was
conhscated IN France AZ the outset Of 4
the reign OF Napoleon III only managed /
70 preserve his Chateau OF ChantiIly with \
its priceless contents from seizure by
vesting its ownership in Baroness Bur
dett-COutts. whom the Emperor did not
care 10 offend. as he himself kept his
private hoard in Coutts' Bank IN London.
When a sovereign or dynasty IS over
turned II has no longer any legal or civil 4
standing before the tribunals OF the coun-
Try, and has no means OF appealing 10 +
the law for the protection OF its property
rights That is why royaI personages
find II prudent 10 place their money be
yond the reach Of their own people; that
Is TO say, in foreign banks
London's great financial institutions
have always been regarded with special
favor by foreign sovereigns in this con
nection- Napoleon III. as I have Just
intimated. when he felt his throne totter-
ing in the latter part OF 1869 and in the
spring OF 1870 managed 10 transfer a con
siderable sum Of money 20 Coutts' Bank.
in the Strand, and It is on account Of
thanks 10 this precautiOn alone
that his consoTt, Empress Eugene. re-
mains to-day one OF the wealthiost Of
royal widows
That Empress Elizabeth OF Austria had
a considerable fortune on deposit in the
Bank OF England was brought 20 light
in connection with an acrimonious dis
cussi0n between the AustrO-Hungarian
embassy N London, the English foreign
Office, The great law officers Of the British
Crown, the revenue authorities. and the
Of the bank after her de-
mise. The revenue department claimed
succession duty on the property. while
the law officers were at first disposed 10
that the executors Of the In
perial lady could not have access 10 the
money II the bank until her will had been n
prObated by the English court Of pro-
bate II was only after 8 good deal Of
which received mention in
the House Of Commons, that the conten-
ton OF the Austrian embassy and Of the
English foreign Office was admitted, 70
the effect that the Empress money IN
the Bank OF England was by reason OF
the ex-territOrisl privileges and inlmuni-
ues conceded 10 foreign sovereigns, ex-
sovereigns. and royal personages exempt
from probate and from succession duties.
Very much the same question arose at
the death OF Alexander III Of Russia.
who left sum amounting to several mil
lion dollars in the Bank Of England. An
attempt was made by the revenue au-
thorities 70 collect English succession
duties; but in Difference 10 the protests
OF the Russian ambassador. Baron de
St2al; the late Sir William Vernon Har-
court. then chancellor OF exchequer. and !
one Of the foremost experts IN interna-
tional Jaw, gave way and agreed to remit
the duties
VIa-,