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There may actually be some consistency, at least, in PG's inconsistency. In some texts, they seem to distinguish between italics used in the original for emphasis, represented in the PG text by all caps, and italics used for other purposes (setting off foreign words and phrases, titles, etc), represented in the PG text by fore-and-aft underscores.
PG texts also use all caps to represent original small caps and caps-and-small.
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