ITALY. 



317 



dinary expenditures at 101,361,498 lire; total ex- 

 penditures, 1,730,312,542 lire. The revenue from 

 railroads and state property was reckoned at 99,- 

 393,045 Jire, of which railroads produced 80,576,- 

 200 lire, state property 11,260,235 lire, and vari- 

 ous sources 1,556,610 lire; direct taxation, 479,- 

 276,500 lire, made up of 286,496.500 lire from in- 

 come tax, 103,380,000 lire from the land tax, and 

 89,400,000 lire from the tax on buildings; taxes 

 on transactions, 221,805,000 lire, including 67,900,- 

 000 lire from stamps, 61,500,000 lire from registra- 

 tion, 21,030,000 lire from the tax On railroad re- 

 ceipts, 37,000,000 lire from succession duties, 12,- 

 000,000 lire from the tax on operations of banks 

 and commercial companies, 7,500,000 lire from the 

 duty on mortgages, 8,000,000 lire from various 

 concessions, 6,200,000 lire from mortmain rev- 

 enues, and 675,000 lire from consular fees; cus- 

 toms, monopolies, and excise, 682,965,000 lire, of 

 which 197,000,000 lire came from the tobacco 

 monopoly, 75,500,000 lire from salt, 51,865,000 lire 

 from octrois,, 60,100,000 lire from duties on the 

 manufacture of beer, spirits, mineral waters, gun- 

 powder, and sugar, 67,500,000 lire from the lot- 

 tery, and 232,000,000 lire from customs; public 

 services, 100,417,697 lire, of which 64,000,000 lire 

 came from the post-office, 15,300,000 lire from tele- 

 graphs, 7,200,000 lire from school fees, 5,909,000 

 lire from prisons, 1,460,000 lire from fines, 2,500,- 

 000 lire from assays, 1,900,000 lire from land regis- 

 try, and 2,148,697 lire from various services; re- 

 payments, 23,642,182 lire; various departmental 

 receipts, 26,586,500 lire; domains, 15,617,648 lire; 

 interest on invested funds, 18,297,024 lire; com- 

 munal contributions of Rome and Naples, 28,045,- 

 230 lire; miscellaneous receipts, 12,989,797 lire. 

 Of the extraordinary receipts 4,103,113 lire came 

 from recovery of debts, 589,671 lire from various 

 effective sources, 151,307 lire were on account of 

 railroad construction, 12,541,978 lire from move- 

 ment of capital, 5,723,840 lire from sales of state 

 property, and 6,818,138 lire from various other 

 sources. The expenditures were 477,495,276 lire 

 for interest on the consolidated debt, 60,356,135 

 lire for extinguishable debts, and 26,464,457 lire 

 for the annuity for the purchase of railroads in 

 northern Italy; 121,303,782 lire for interest on 

 floating debt, including 15,949,005 lire on treasury 

 bonds, 15,528,000 lire due to railroad companies, 

 81,264,261 lire on railroad guarantees, 4,363,400 

 lire on accounts current; and 4,199,116 lire for 

 various floating liabilities; 16,050,000 lire for the 

 civil list and appanages; 6,021,000 lire for pen- 

 sions; 2,155,000 lire for the Senate and Chamber 

 of Deputies; 9,947,912 lire for general expenses of 

 the Ministery of the Treasury; 975,697 lire for 

 various services; 3,500,000 lire for a reserve for 

 unforeseen expenses; recettes d'ordre, 20,758,617 

 lire, including 18,297,024 lire for the service of the 

 amortizable debt and 1,967,297 lire for interest; 

 and 494,296 lire on account of domains ; 23,089,542 

 lire for extraordinary expenditures of the Min- 

 istry of the Treasury; 29,131,713 lire for general 

 expenses of .the Ministry of Finance, including 

 9,068,286 lire for general administration, 12,577,- 

 000 lire for pensions. 1,505,300 lire for various serv- 

 ices, and 5,981,127 lire for the cadastral survey; 

 156,882,818 lire for cost of collecting revenues 

 and of monopolies, lotteries, etc.; 29,928,661 lire 

 for expenditure d'ordrc; 7,320.956 lire for extraor- 

 dinary expenditures of the Ministry of Finance; 

 16.270.105 lire for the Ministry of Foreign Affairs, 

 16,246,105 lire being for ordinary and 24,000 lire 

 for extraordinaiy expenses; 47,474,952 lire for the 

 Ministry of Education. 46.572,158 lire being for 

 ordinary and 902,794 lire for extraordinary ex- 

 penses/40,977,897 lire for ordinary and 21,798 lire 



for extraordinary expenses of the Ministry of Jus- 

 tice; 71,190,336 lire forfthe Mini-try of l.ho In- 

 terior, 12,003,2270 lire being for general sjdininistra- 

 tion, 7,705,000 lire: for pensions, I .(); 1 .01 :', \\\-<. f or 

 sanitary service, 16,420,895 lire for police. ^7,s!)7,- 

 970 lire for prisons, 949,4(50 lire for v;jiriou.-, Cerv- 

 ices, 1,431,625 lire for expenditure donlrr. and 

 3,721,097 lire for extraordinary expenses; 38,7:5^,- 

 363 lire for ordinary and 51,456,333 lire for ex- 

 traordinary expenditure of the Ministry of Public 

 Works; 66,298,694 lire for the Ministry of Posts 

 and Telegraphs, 65,922,178 lire being for ordinary 

 and 376,516 lire for extraordinary expenses; 271,- 

 159,678 lire for the Ministry of War, 264,893,678 

 lire being for ordinary and 6,266,000 lire for 

 extraordinary expenses; 122,384,671 lire for the 

 Ministry of Marine, 117,408,191 lire being for ordi- 

 nary and 4,976,480 lire for extraordinary ex- 

 penses; 12,964,149 lire for the Ministry of Agri- 

 culture, Industry, and Commerce, 9,758,167 lire 

 being for ordinary and 3,205,982 lire for extraordi- 

 nary expenses. The ordinary revenue shows a 

 surplus of 80,084,579 lire over ordinary expendi- 

 tures, but the extraordinary receipts are 83,975,- 

 429 less than the extraordinary expenditures, giv- 

 ing a net deficit of 3,890,850 lire. The effective 

 receipts are 26,634,783 lire in excess of the ex- 

 penditure in the same category, while the account 

 for the construction of railroads shows only 151,- 

 307 lire of receipts and 18,578,403 lire of expendi- 

 tures, and in the movement of capital the expendi- 

 ture exceeds receipts by 12,098,537 lire. The di- 

 rect taxes in Italy are exceedingly high. The 

 income tax is 20 per cent., and the full tax is 

 collected on Government bonds, but in the case of 

 incomes from trade and industry only half the 

 income is assessed, nine-twentieths when it is de- 

 rived from professions, three-eighths in the case 

 of officials, and three-fourths when the income 

 is derived from corporations. The tax on build- 

 ings is 12| per cent, of the annual taxable value, 

 which is tw T o-thirds of the actual rental in the 

 case of factories and three-fourths in that of 

 dwelling-houses. The actual receipts of the treas- 

 ury for the year ending June 30, 1901, were 1,685,- 

 174,500 lire, and expenditures 1,679,890,000 lire. 

 The revenue had steadily expanded for four years. 

 The national debt absorbs 48 per cent, of the en- 

 tire revenue. The debt accumulated during the 

 period of Italian unification, chiefly by taking 

 over the debts of the component states, has been 

 a heavy load. Prior to 1861 a debt of 3,500,000,000 

 lire existed. The greater part of the debt has been 

 expended on railroads, roads, posts, and other 

 productive w r orks. A large share of this, however, 

 was unjustly assumed in the railroad conventions 

 of 1885, and wastefully contracted for electoral 

 purposes between 1880 and 1886. The abolition 

 of the grist tax and the imposition of a multi- 

 tude of protective duties and other indirect taxes 

 disturbed the equilibrium, and the military ex- 

 penditures incurred in consequence of the French 

 occupation of Tunis, as well as the normal 

 charges assumed as a great power and a member 

 of the Triple Alliance, brought on a period of 

 deficits which greatly added to the debt from be- 

 fore the commercial crash of 1893 until the equi- 

 librium was restored in 1896. The public debt in 

 1899 amounted to 12,256,198,652 lire. The interest 

 in 1900 was 589,095,616 lire, of which 400,520,809 

 lire were paid on 5-per-cent., 59,059,902 lire on 4J- 

 per-cent., 7,685,884 lire on 4-per-cent., and 4,408,- 

 530 lire on 3-per-cent. rentes; 12,178,697 lire on 

 debts separately inscribed, bearing from 3 to 5 

 per cent, interest ; 90,566,794 lire on various other 

 debts, bearing from 3 to 6 per cent, interest; 

 11,050,000 lire on the floating debt; and 3,225,000 



