The Russian minister at Washington, whom Mr. Cole saw repeatedly upon the subject, was not authorized to act, and the latter, after conference with the Department of State, was induced to address Mr. Clay, minister of the United States at St. Petersburg, who laid the application before the Russian Government. This was an important step. A letter from Mr. Clay, dated at St. Petersburg as late as February 1, 1867, makes the following revelation. “The Russian Government has already ceded away its rights in Russian America for a term of years, and the Russo-American Company has also ceded the same to the Hudson’s Bay Company. This lease expires in June next, and the president of the Russo-American Company tells me that they have been in correspondence with the Hudson’s Bay Company about a renewal of the lease for another term of twenty-five or thirty years. Until he receives a definite answer, he cannot enter into negotiations with us or your California company. My opinion is, that, if he can get off with the Hudson’s Bay Company, he will do so, when we can make some arrangements with the Russo-American Company.” Some time had elapsed since the original attempt of Mr. Gwin, also a Senator from California, and it is probable that the Russian Government had obtained information which enabled it to see its way more clearly. It will be remembered that Prince Gortchakoff had promised an inquiry, and it is known that in 1861 Captain-Lieutenant Golowin, of the Russian navy, made a detailed report on these possessions. Mr. Cole had the advantage of his predecessor. There is reason to believe, also, that the administration of the fur company had not been entirely satisfactory, so that there were well-founded hesitations with regard to the renewal of its franchise. Meanwhile, in October, 1866, Mr. de Stoeckl, who had long been the Russian minister at Washington, and enjoyed in a high degree the confidence of our Government, returned home on leave of absence, promising his best exertions to promote good relations between the two countries. While he was at St. Petersburg, the applications from the United States were under consideration; but the Russian Government was disinclined to any minor arrangement of the character proposed. Obviously something like a crisis was at hand with regard to these possessions. The existing government was not adequate. The franchises granted there were about to terminate. Something must be done. As Mr. de Stoeckl was leaving for his post, in February, the Archduke Constantine, brother and chief adviser of the Emperor, handed him a map with the lines in our treaty marked upon it, and told him he might treat for cession with those boundaries. The minister arrived in Washington early in March. A negotiation was opened at once. Final instructions were received by the Atlantic cable, from St. Petersburg, on the 29th of March, and at four o’clock on the morning of the 30th of