POPE JOHN TO LAUNCH NEW PEACE FUND

POPE JOHN has announced that he will use his £50,000 Balzan Peace Prize to create "a perpetual fund in favour of peace". The Pope made this announcement on Saturday at the final stage of a two-day ceremony, in the Quirinal Palace, the official residence of the Italian Head of State.
The Balzan Prize is named after the late Eugenio Baleen, editor of the Milan newspaper Corriere della Sera, who left Italy for Switzerland when the Fascists came to power. The Balzan Foundation has its headquarters in Switzerland. The prize has been awarded only once before, to the Nobel Foundation of Stockholm, and the Pope is therefore the first individual to receive the honour.
INSIGNIA
The first part of the ceremony took place in the Vatican's Regal Hall on Friday last, when the citation of the award was read by Sr. Arangio Ruiz, President of the Balzan Foundations Awards Cornmittee. Sr. Ruiz told the Pope that the prize was "a public recognition of your activity in favour of brotherhood among men, through appeals for peace and to the goodwill of men'. The citation also praised the Pope for inviting representatives of other Christian faiths to attend the Ecumenical Council.
President Segni of Italy then presented the Pope with the insignia of the prize, consisting of a gold chain and medal, as well as a scroll describing the Pope's fitness to receive the award.
After receiving his prize, Pope John went on to the Basilica of St. Peter, where a number of Cardinals and diplomats had taken their places informally. A large crowd applauded him on his arrival. Once the Pope had taken his place, on a throne before the altar of the Confession, Sr. Giovanni Cironchi, a former President of Italy, who is now head of the Balzan Foundation, referred to the Pope's Easter Address, and said that his optimism was joined to "the highest form of hope, the victory over scepticism and despair". In replying, Pope John paid tribute to Balzan as "that humble son of the working world".
PAPAL FLAG
On the Saturday, the Pope arrived in the Quirinal Palace shortly after winners of other Balzan awards had received their prizes. As he crossed into Italian territory, he was greeted with a 21gun salute by the Italian army, and his entry into the Quirinal Palace was eignalised by the papal flag appearing beside the Italian flag over the buildings clock-tower. In his speech at the Quirinal, which was formerly the residence of Popes, until it was wrested from the papal possessions by predecessors of Sr. Segni amollg Italian Heads of State, Pope John told Sr. Segni, "Mr. President, you can well imagine with what emotion this Bishop of Rome and humble Pope of the Universal Church comes to this residence of the supreme authority of the Italian State".
Before receiving his own award, the Pope had himself honoured Sr. Segn.i by presenting him with the highest papal decoration, the Supreme Order of Christ.