The royal commissioner for finance, Giacomelli, had, as a precautionary measure, seized the pontifical treasury; but upon being informed by Cardinal Antonelli that among the funds deposited in the treasury were 1,000,000 crowns of Peters Pence offered by the faithful to the pope in person, the commissioner was authorized by the Italian council of state not only to restore this sum, but also to indemnify the Holy See for moneys expended for the service of the October coupon of the pontifical debt, that debt having been taken over by the Italian state.
Measures were enforced to prevent Italian holders of consols from sending their coupons abroad to be paid in gold, with the result that, whereas in 1893 3,24o,ooo had been paid abroad in gold for the service of the January coupons and only 680,000 in paper in Italy, the same coupon was paid a year later with only 1,360,000 abroad and 2,540,000 at home.
The extravagant management of the railways guaranteed by the state had entailed such heavy deficits that the payment of Financial the coupon of the railway state loan, due on the Crisis of 2nd of January 1892 had to be suspended.
In 1909 an act was passed permitting county boards to adopt a "coupon" ballot.
A The coupon ballot was proposed for use throughout the state, but was defeated by popular vote in April 1906.
From 1875 to 1881, when not too much engrossed in more pressing affairs, his governments turned their attention to the reorganization of the finances, the resumption of payment of part of the debt coupon, and the consolidation of the colonial and imperial floating debts.