hours of his disgrace, because he was in some sense really great.
This time was characterised by curious inconsistencies. At the same time that an edict was promulgated stating that no more concessions would be granted to foreigners, the Seoul Electric Company was organised to construct a tramway and a lighting plant in Seoul. Material improvements continued parallel with, but in the opposite direction from, the policy of the government. An agreement was even entered into with an American firm for the construction of a system of water-works for Seoul at a cost of some seven million yen.
The failing hopes of the Independence Club drove it to its final place, that of protest. Memorials began to pour in, protesting against this and that. In February it complained of foreign control in Korea, directing the attack apparently upon the Russian pretensions; but if so, it was unnecessary, for by the ist of March the Russians decided that their position was untenable, or that a temporary withdrawal of pressure from Seoul would facilitate operations in other directions, and so, under cover of a complaint as to the vacillating policy of the Korean government, they proposed to remove Mr. Alexeieff from his uncomfortable position vis-a-vis Dr. Brown and also take away all the military instructors. Perhaps they were under the impression that this startling proposal would frighten the government into making protestations that would increase Russian influence here; but if so, they were disappointed, for the government promptly accepted their proposition and dispensed with the services of these men. No doubt the government had come to look with some anxiety upon the growing influence of Russia here, and with the same oscillatory motion as of yore made a strong move in the opposite direction when the opportunity came. The Korean government has been nearly as astute as Turkey in playing off her "friends" against each other.
Just one month later, the 12th of April, N. Matunine relieved Mr. de Speyer, the Russo-Korean bank closed its doors, the Rus-
