In all the circumstances it was only natural that the extraordinary chapter of history we have just narrated should have marched to its appointed end in just as extraordinary a manner as it had commenced. Yuan Shih-kai, the uncrowned king, actually enjoyed in peace his empty title only for a bare fortnight, the curious air of unreality becoming more and more noticeable after the first burst of excitement occasioned by his acceptance of the Throne had subsided. Though the year 1915 ended with Peking brightly illuminated in honour of the new régime, which had adopted in conformity with Eastern precedents a new calendar under the style of Hung Hsien or "glorious Constitutionalism," that official joy was just as false as the rest had been and awakened the incredulity of the crowd. On Christmas Day ominous rumours had spread in the diplomatic circle that dramatic developments in South China had come which not only directly challenged the patient plotting of months but made a débâcle appear inevitable. Very few days afterwards it was generally known that the southernmost province of China, Yunnan--on the borders of French-Indo-China--had telegraphed the Central Government a thinly veiled ultimatum, that either the monarchy must be cancelled and the chief monarchists executed at once or the province would take such steps as were deemed advisable. The text of these telegrams which follows was published by the courageous editor of the Peking Gazette on the 31st December and electrified the capital. The reader will not fail to note how richly allegorical they are in spite of their dramatic nature: FIRST TELEGRAM To the Great President: Since the question of _Kuo-ti_ (form of State) was raised consternation has seized the public mind; and on account of the interference of various Powers the spirit of the people has been more and more aroused. They have asked the question:--"Who has invited the disaster, and brought upon us such great disgrace?" Some one must be responsible for the alien insults heaped on us.