In the position of Minister of Finance and Treasurer of the Imperial Palace, which he once filled, Yi Yong-ik opposed foreign supervision of the revenues of the Maritime Customs. Acting in concert with the Russian and French Ministers, he was primarily responsible for the most recent crisis in the affairs of Mr. McLeavy Brown, the Chief Comptroller and Executive Administrator of the Korean Maritime Customs. At a time when the Imperial household was in need of money, Yi Yong-ik created the desire for a loan by withholding the revenue of the Privy Purse from his master. It was explained to his Majesty that his financial embarrassments were due to the action of his Chief Commissioner of Customs in locking up the proceeds of the Customs. Supported by the influence of the Russian and French Ministers, Yi Yong-ik suggested that the Customs revenue should become the security for the loan which was being pressed upon him by a French syndicate. When Mr. McLeavy Brown heard of the transaction between the agent of the syndicate and the Minister of Finance, he at once repudiated any hypothecation of the revenues of the Customs for such a purpose. In co-operation with the French and Russian Ministers, Yi Yong-ik, upon a variety of pretexts, attempted to bring about the peremptory dismissal of the Chief Commissioner of the Customs. He was foiled in this by the unexpected demonstration of a British Squadron in Chemulpo Harbour, and the attendant preparation and embarkation of a field force at Wei-hai-wei. Upon the withdrawal of the guarantee of the Customs revenue the Franco-Russian scheme collapsed, the agent of the interested syndicate returning to Europe to complain of the action of the British Minister and the Chief Commissioner of Customs.