The Republican. [volume] (Oakland, Md.) 1877-current, 1899-02-02
DIAMONDS in DEMAND.
The Business in Precious stones
Indicates That Times Are
Good.

There is an old saying among dia-
mond dealers that by the volume of
the importation of precious stones
from abroad the condition of business
in this country may be correctly
gagged. When times are good the de-
mand for diamonds is large; when
times are bad, diamonds, being lux
ury, are in less demand and the inn
portation of them declines. just now
there is a largely increased demand
for diamonds, and if there be merit in
the claim made in the saying quoted
this should be another indication of
pervasive good times. The treasury
bulletin recently issued in Washington
corroborates distinctly the claim of
enlarged importations of diamonds.
Here are the figures for the two years,
the two fiscal years, ending July 1,
of 1897 and 1898, of diamond importa-
tons into the United States: 1897,
ST. $40; 1898, $6,955,7S9. The in
crease of importations of diamonds is,
however. not the only one in the line
of decorative jewelry," so to speak.
The importations for the two years
of other precious stones, rubies,
sapphires, emeralds, pearls, opals,
etc, are as follows in amount: 1897,
$1,573, 7SS; 1898, $3,44O,076.
The two chief foreign ports from
which diamonds are sent to this coun-
try are Amsterdam and Antwerp.
From Great Britain a considerable
~ nj Of iatEa1r-x- &c nrfaH n n
United States, but much of it comes
from England in transit, particularly
from Switzerland, a country having
few direct trade relations with the
United States. In the fiscal year of
1894 following the depression caused
by the financial disturbances of that
year, the exports of jewelry to the
United States fell off one-half in
amount. The expectations of French
jewelry fell off two-thirds and from
Holland four-ffths, but the losses sus-
tanned in the amount of the exports
have been more than covered this year,
as the treasury figures show. The
American port which practically gets
all the jewelry, diamonds and precious
stones sent into the United States is
New York, the importations into
other American ports being insignifi-
cant in amount, Notwithstanding the
fact that considerable share of the
country's jewelry business is done in
New England, particularly in the city
of Providence. The explanation of the
matter is that New York is the mar
ket of supply for the whole country
in jewelry and precious stones,
though New York has only part of the
trade il diamond and precious stone
setting.
The largest country of export of
uncut diamonds to the United States
is Holland, and England follows
through the development of the dia-
mond interests in Africa. In the i'm
portation of jewelry and precious
stones other than diamonds, France
leads and Holland follows. The va
frances in the amount of business
done in diamonds and precious stones
ia trade peculiarly susceptible to
trade conditions) is shown in the case
of Belgium. In 1894 its total exporta-
tons to the United States were to
the value of $74, 900 in diamonds, Jew
elry and precious stones. The year
before they were $4,000, or three
times as much. The year after they
were 100000, or seven times greater
The same assertion which is made
concerning diamonds and precious
stones as a trade barometer has been
made assiduously for champagne. the
importations of which are always
largest when business is good and
smallest when times are dull.-N. Y.
Sun.