“ In view of the severe monetary crisis of 1893 he was entrusted by Crispi with the portfolio of finance (December 1893) , and in spite of determined opposition dealt energetically and successfully with the deficit of more than £6,000,000 then existing in the exchequer. By abolishing the illusory pensions fund, by applying and amending the Bank Laws, effecting economies, and increasing taxation upon corn, incomes from consolidated stock, salt and matches, he averted national bankruptcy, and placed Italian finance upon a sounder basis than at any time since the fall of the Right. ”

“ Though averse from the policy of unlimited colonial expansion, he provided by a loan for the cost of the Abyssinian War in which the tactics of General Baratieri had involved the Crispi cabinet, but fell with Crispi after the disaster at Adowa (March 1896) . Assuming then the leadership of the constitutional opposition, he combated the alliance between the Di Rudini cabinet and the subversive parties, criticized the financial schemes of the treasury minister, Luzzatti, and opposed the “democratic” finance of the first Pelloux administration as likely to endanger financial stability. ”

“ Entering the diplomatic service at an early age, he was appointed successively to the legations of Madrid, Vienna, Berlin and Versailles, but in 1871 returned to Italy, to devote himself to political and social studies. ”