The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1870-10-26
The diamond Trade.

A member of a Hamburg firm, who
has visited the diamond diggings, re-
Gently discovered on the Vaal river, in
South Africa, reports that they are the
richest in the world, and as he is prac.
tical man in the jewel business we pre-
sumo that the statement is not an exagf
geration. In one place, in triangle
one hundred and fifty PAGES, no less
than three hundred diamonds were
taken from the surface gravel, which
ranged from a depth OF six inches to
three feet; fifty-two Of these diamonds
ranging from three and half carats to
forty, were worth one hundred thousand
dollars, and ninety diamonds taken out
by another party, ranging from half
carat to thirty, were worth nearly thirty
thousand dollars.
Yet Notwithstanding the richness Of
these discoveries, and the large number
of diamonds sent TO Europe fpm the
mines, the value of the gem generally,
so far from sinking as 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. 1t
seems that the demand has been in
creased, at first relatively with the sup
ply, but subsequently in greater ratio.
One reason for this is that those new
mines have produced an unusal num-
Der of small diamonds, which, being
within the means of 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 occasions
and and for grand display Buta num-
ber of small diamonds may be worn in
rings, eardrops or breastpins, and make
a fine show without much risk.
But probably a stronger reason is to
be found in fashion that was started
in Paris several years ago This was
to wear different set of jewels for each
showy dress, generally endeavoring to
make the style of the jewels match the
dress. This necessitated the wearing of
cheap jewels among all classes except
the rich, since the wealthy alone conld
afford the expense OF real gems and
solid gold At once cheap jewelry be-
came universal, and in the midst of this
rage reaction set in among the rich
in favor of genuine and costly jewelry.
Diamonds had not been much in fash
ion, but they became so, and all who
had them brought them out at once,
while all 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.
Whatever NAV be said against the fash
ion, these gems represent indisputable
value, and speak for themselves with
out needing any praise from their own
ers. The usual objection is that money
locked up in these jewels briggs in no !
interest; but if the diamond Keeps on
raising as il has done, and the supply is
no better than it has been, the owners
of diamonds will, after all, hold an in
vestment of steadily improving value
The increase in value OF late has been
calculated at from ) to per cent Nor,
indeed, is there any more extravaganza
in the purchase Of diamonds than in a
house full Of pictures or statues-per-
haps not a. much: for the diamond is
seen and admired everywhere, while |
the pictures and statues are shut up
and seen only by few. Moreover, dia.
monds are always capable of being sold
for a good price Their standard Is
generally better than that of gold, and
varies much less. The reason lie, that
more value may be concentrated in a |
smaller space in diamonds than in gold
and the former are more readily con-
cealed or transferred, and more easily !
identified in case OF theft