Ferragosto is a public holiday celebrated on 15 August in all of Italy. It originates from Feriae Augusti, the festival of Emperor Augustus, who made 1 August a day of rest after weeks of hard work on the agricultural sector. It became a custom for the workers to wish their employers buon Ferragosto and receive a monetary bonus in return. This became law during the Roman Renaissance throughout the Papal States. As the festivity was created for political reasons, the Catholic Church decided to move the festivity to 15 August, which is the Assumption of Mary allowing them to include this in the festivity. Source: Wikipedia.