Peter's pence


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Peter's pence,

in the Roman Catholic Church, the annual voluntary laymen's contribution to the support of the pope. Formerly Peter's pence was a yearly tax of a penny levied by the Holy See on every household in England and elsewhere. The name derives from the fact that the Holy See is called the see of Peter.
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From 1870 Peter's Pence became a major source of income to the papacy.
From parish funds, according to Berry's scenario, bishops have been able to build up considerable reserves, then use them to buy favor in Rome through large donations to papal coffers--labeled as Peter's Pence to disguise the fact they were originally creamed off the top of church collections.
Peter's Pence is not the only stream of financial support to the pope.
Only Cor Unum, of the three major outlays of Peter's Pence funding, publishes annual data.
Cor Unum's four allocations--roughly $8.65 million--account for less than 10.5 percent of the $82.5 million collected through Peter's Pence. The Vatican has not released figures on how it spent the rest of 2009 Peter's Pence.
Across the last century Peter's Pence proved pivotal to the Holy See; but the money's major role went not for helping the needy but to plug Vatican operating deficits.
Traditionally, Peter's Pence is to be collected for the Holy Father's charities, but with the reduction of the income and the increase of costs, a move was made first of all to take money from the Peter's Pence, and eventually to take all of the revenue from Peter's Pence.
This total is kept secret, but it is believed to be close to the Peter's Pence. At least this was the case in the four years for which figures were leaked [before Italy adopted the euro].
The international funding drive revived a medieval tradition called Peter's Pence (historically, a tax of one penny per household in England for the occupant of St.
Popular myth produced its opposite: a stunning 1.7 million lire for Peter's Pence yielded at an 1874 Catholic congress in Venice.
Pollard calculates that in the seven years following the 1870 fall of Rome, the Vatican saved 4.3 million lire annually from Peter's Pence income.
Tarango said Mary's Pence has been falsely characterized as an alternative to Peter's Pence, the Vatican's annual fund-raiser.