The project of S. Scialoja for realizing the Church Domain
of Italy seems to be this. The Church is to sell its lands for itself, hand over one-third of the price to the State, and keep the remaining two-thirds, investing the money, however, in the Funds. The State will thus obtain, it is believed, 20,000,0001. in five years, while the immense purchases in the Funds will help to send them up to the French level, or, as S. Scialoja hopes, to 75. It is said that both the Papalini and Reds intend to resist this proposal; but the scheme has two grave merits,—it enables the Government to tide over the deficit of five years without a loan, and it leaves Church property well within the grasp of the State. Otherwise the Italian clergy, like the Belgian, might purchase foreign stocks, and be out of the reach of taxation altogether.
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