BANKS. The Hong Kong and Shanghai Bank has an office in Korea, and there are also brandies of Japanese batiks. Russian financial interests are represented locally by the Russo Korean Bank at Seoul.
Go ERNMENT. Korea is an absolute monarchy. Until January 7, 1895, it paid tribute to China, and its kings always received investiture from the Chinese Emperors. The Government was based on that of China. and consisted of a grand council of three ministers, and six boards, each with its own president and staff of officials, all or provinces into two—a northern and a southern —and from Kyeng-Keni, one of the remaining the 'metropolitan province,' with Han-yang, the capital, was separated and erected into a department called Han-yang Pu under a Gov ernor called a P'an-yun. Of the 339 prefec tures 7 are placed under Pu-yan or 'city Gov ernors' (pu = Chinese fn) and 4 of the treaty ports are under Kanini or 'superintendents of trade,' who rank with consuls. The following table gives the names of the 13 provinces, the names of the capitals, and the result of a cen sus ( ?) taken in 1900 which will be explained below under Population. The spelling of Ko rean name, is unsettled, and the chief forms are given.
appointed after examination. In 1895 the Gov ernment was remodeled, the six boards, the ex aminations, and the privileges of the aristocracy were abolished, and a Grand Council of State was instituted, consisting of the ten members of the Cabinet and five councilors to discuss resolu tions for the King to sign. The ten ministers
are: a President or Prime Minister, and secre taries for the Home, Foreign, Treasury, War, Education, Justice, Agriculture, Trade and In dustry, the Imperial Household, and Police de partments. In 1897 the King declared his coun try an empire, gave it the name of Dai Han, took the title of Emperor, and inaugurated a new reign-period (called Kwang-mu) with 1897 as the first year.
In 1901 the public revenue amounted to $4, 521,569, derived chiefly from land tax, house tax, customs duos, the ginseng monopoly, and miscellaneous sources. More than half was furnished by the land tax ($2,530,904). A debt of $1.375.000 contracted in 1895 was paid oil. A mint has been established and silver dollars (w(;11 or yen) are coined (based on a gold unit), besides 20-sen silver pieces, 5-sen nickels, 5. `cash' copper pieces, and 1-`cash' pieces of brass. Japanese paper currency amounting to $1.250, ono is in circulation, and as the new coinage in circulation is inadequate, Japanese coins are used. The weights and measures of Korea are the same as those of China. The army consists of 17.000 men (all drilled, clothed, and equipped in foreign style), a bodyguard of 1000 men, and 2000 police. There is no navy.