New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-12-30
THE WEEKLY REPUBLICAN
Terms Of Subscr1ption.
One year, &s; six months, - 50.
The Diamond Trade.

member OF Hamburg nrm, VINO has
visited the diamond diggings, recently dis
covered on the vaal river in South Africa,
reports. that they are the richest in the
world, and as he 10 practical man in the
Jewel business, we presume the statement is
not an exaggeration. In one place, in a
triangle Of one hundred and fifty PAGES, no
less than three hundred diamonds were
taken from the surface gravel, which
ranged from depth of six inches to three
feet; ffty-two Of these diamonds, ranging
from three and q half carats, to forty, were
worth $l0o, 600, and ninety diamonds taken
out by another party, ranging from Q half
carat to thirty, were worth nearly $4,000.
Yet not Notwithstanding the richness Of these
discoveries, and the large number Of dia-
monds sent to Europe from the mines, the
value Of the gem generally, 90 far from
sinking, e. might have been supposed, has
gradually increased in all the great diamond
markets Of the world. The cause Of this is
one Of the most curious features Of the
trade It seems that the demand has been
increased, at first relatively with the sup
ply, but subsequently in 2 greater ratio.
One reason for this il, that these new mines
have produced an unusual number of small
diamonds which, being within the means of
much larger number Of people than the
bulkier Ones are more eagerly sought after,
more generally worn when once set, and
therefore, more seen by the public. A very
valuable. diamond is worn only on rare Oc-
casions, and for grand display. But num-
her Of small diamonds may be worn in
rings, eardrops or breastpins, and make
fine show without much risk.
But probably q stronger reason is to be
found in fashion that was started in Paris
several years ago. This was to wear diff
ferent set of Jewels for each snowy dress,
generally endeavoring to make the style of
the Jewels match the dress. This necessi
tated the wearing Of cheap jewels among all
classes except the rich, since the wealthy
alone could afford the expense Of real gems
and solid gold. At once cheap jewelry be-
csmo universal, and in the midst of this
rage, . reaction set in among the rich in
favor Of genuine and costly jewelry. Dial
monds had not been much in fashion, but
they became SO and all who had them
brought them out ct once, those who had
none went into the market to buy.
This fashion has ragged now in America
with peculiar force for several years, and
there is really greater demand for dia-
monds than ever was known before. What
ever may be said against the fashion, these
gems represent indisputable value, and
speak for themselves without needing any
praise from their owners. The usual Objec-
ton il, that money locked up in these
jewels brings in noSinterest; but if the dia-
mond keeps ON rising as it has done, and
the supply is no better than it has been. the
owners Of diamonds will, after all, hold an
investment Of steadily improving value.
The increase in value Of late has been cal
eulated at from five to seven per cent. Nor,
indeed, is there any more extravaganza in
the purchase Of diamonds than of o house
full Of pictures or statues, perhaps not "a
much; for the diamond is seen and admired
0vervvharn while f1A nict,rreS and sfafr,es
are shut up and seen only by a few. More
. over, diamonds are always capable Of being
cold for . good price. Their standard is
generally better than that Of gold, and va
ries much less. The reason is, that more
salue may be concentrated in smaller
space in diamonds than in gold, and the for
mer are more readily concealed or trans
ferred, and more easily identified in case of
theft PHILADELPHIA North american.