This paper will argue that the manager's conspiracy against Kurtz manifests the same strategy as that employed by real-life colonial explorers in the 1890s. It also argues that Marlow tries to grasp the significance of "imperialism" as a historical process when he tells the story of Kurtz. This paper will contextualize the conspiracy theme by discussing two historical contexts: the Emin Pasha Relief Expedition, and J. A. Hobson's Imperialism: A Study. It will show that the manager's journey marks similar efforts in territorial annexation to those that characterized the Expedition. Secondly, this paper will tackle "imperialism" as a contingent historical process. It will discuss Marlow's evaluation of Kurtz in the context of the late 1890s when "imperialism" meant different things to different European countries.