The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-03-07
Diamonds.


significant as this caprice of fashion
may seem, it reposes upon deep wis
dom and philosophy. This unusual
desire Tor the possession of precious
stones, indicates the apprehension of
an approaching financial convulsion,
from the ruinous crash of which, men
OF wealth and foresight would save
something ofsolid and enduring value.
Hence, we find them investing largely
IN diamonds, and packing them upon
IL cir wives and daughters, as species
of wealth which ssmoth and rust -
are not so likely to corrupt" nor
are they so liable to "take wings " as
bonds and stock investments.
1t is true, that diamonds are at all
times coveted as ornaments and trea-
sures, but regularity ordinarily cha
racterizes their traffic, under healthy
state of trade and commerce, as much
80 as in the case of any other COM
modify. But when the passion for
them becomes excessive-when Petro-
liza and Shoddy are found hunting
them up and buying at any price,
when persons are to be found invest
ing in these little gems, whose in
comes do not warrant this indulgence
In these expensive luxuries, the COM
mnnity may take It as a pretty sure
indication that there is something as
'srotten " in the financial world, as
there was in Denmark.
Every period OF commercial inf1a-
ton and the bursting of all great
financial bubbles, have always been
preceded by an extraordinary increase
In the demand for and sale of dia-
monds and other precious stones.
The same warning phenomena are
observable at this time in European
communities. We are informed that
just now, when the premonitory signs
of approaching financial troubles are
clouding the social and political hori-
zon of France, the rage for diamonds
is seizing upon all classes, from the
duke down to the peasant; that never,
at any period of social extravaganza,
has there been witnessed such d pas
sion for them. AS we have already
lntlmated, there is deep method
in all this madness" and those who
practice it are actuated by desire to
secure and put away something, the
| value of which is not fictitious, and
which can be converted into money
whenever the necessities of the owner
require it during the struggles with
the waves of the detuge.
In this apparent reckless expendi-
ture and extravaganza, there is q wise
! economy and foresight in fleeing from
the wrath to come, which is public
proclamation to mankind to "get
from under It is, in q measure, to
be regretted that Petrolia and Shoddv
have this much wisdom; for nobody
would grieve if the sky, when it fell,
should catch these larks; but they are
much too shrewd for that. They
only care for greenbacks from their
ability to buy diamonds and gold.
Having placed themselves on a safe
basis, they will, when ruin comes,
snap their fingers at the misfortunes
OF others, as old Noah is supposed,
when safely in his ark, to have
chuckled at the idea of what a goodly
number of antediluvian sinners were
drowning in the waters upon which
he was securely floating. What q
SOAAAAoA oe'O'O ASOAAS Cudt 1uuSG udNS
been to the old navigator. Well, it
is just such feelings as the men who
have most successfully traded in the
blood and suffering of the country
will experience, when they have safe
ly provided for themselves by prodi-
gal investments in diamonds and
other imperishable treasures.
We have been all the time desirous
that these men should atone in some
way. in this life, for the manner in
which they have made their money.
But it seems they are destined to re-
ceive their punishment alone in the
next world; for, in matters of finance,
they are such cats that they always
fall upon their feet. no matter how
convulsions disturb their equilibrium.
But we imagine, if there is any faith
and virtue in birthstone and fire,
these fellows will have lively time OF
it whenever they reach locality
where these elements are said to pre-
vail astonishingly.
Richmond Times.
IMMIGRANTS. Williamson, of