The “Monte vacabile dell’Ospizio Apostolico dei poveri invalidi” in Eighteenth Century Rome: a case study,

The problem of pauperism in Rome, as in the rest of Europe, between the 16th and the 18th centuries, was very important. In the city of the popes it was not only a matter of ensuring the proper management of the State but also the repose of society through the public organization of succors and their control by the political power. To this end, a publication in 1693 (Istituzioni e regole degli Ospizi generali per li poveri da fondarsi nello Stato Ecclesiastico di ordine della Santità di Nostro Signore Papa Innocenzo XII, Roma 1693) reveals that the authorities were aware that regulating charitable institutions was not enough without a firm commitment to making these institutions operate effectively to help the poor. It was in the years between 1686 and 1692 that Tommaso Odescalchi sheltered the poor and destitute children of Rome in the house of San Michele; the State’s effort in the Ospizio Apostolico, however, was costly. This led the pontiff to authorize the Ospizio to raise funds from other sources, such as the so-called censi vitalizi. As to the other type of extraordinary financing, the “Monte vacabile dell’Ospizio Apostolico”, the Papal Government was able to inspire confidence in potential subscribers by promptly paying interest and repaying the principal. Then, the public debt, which was ably managed by the papal authorities, turned out to be the most effective tool for raising substantial resources, and in a rather short time frame, to meet the growing financing requirements. In addition to this, the establishment of the Monte dell’Ospizio Apostolico is a typical case of state intervention in its economic life.