The evening times., 1899-03-21
JEwELRY IN GUATEMALA.
The Trade Nearly Destroyed by
Hard Times and High Exchange.

The Trade Nearly Destroyed by
Hard Times and High Exchange.
trade association in Chicago seems to
be anxious to develop the export of jew
elry and precious stones, for, through the
State Department, ii has enquired OF Con-
sui General Beaupre, at Guatemala, con-
cerning the market for such articles OF
adornment there.
Considerable valuable information is en-
bodied in the report of the consul general,
who says in part:
During the years OF Guatemalas phenomenal
prosperity this was splendid market for pre-
cious stones and iewelry OF all kinds. The trade
was centered largely in the two cities of Guate-
mala and Quezaltenango. The enormous profits
of the coffee planters created sudden and large
wealth, which lavishly expended in luxu-
ries. This ended, however, some two years ago.
since which time the trade has ebbed until now
ii is practically nothing. The fall in the price
of coffee, the depreciation of silver. and revou-
tlonary troubles created a panic, and great de
preston in business followed. With exchange at
$50 per cent premium on New York, and very
high customs duties, il is almost useless 10 at
tempt to sell iewelry in this country at present
There were magnificent lewelry stores in tins
city, and some of them remain; but their bust
is very small. They endeavoring to sell
their old stock, and import but little. There are
no wholesale dealers, the merchants importing dI-
rect.
Most of the jewelry comes from Europe; but,
for some reason, the Waltham watch holds the
market and il used almost exclusively. This IS
probably due to the fact that it has been well
advertised and pushed, and the PECULIARLY OF this
people is that they to change, and
prefer to buy that with which they perfectly
familiar.
The duty on each gold gold plated watch is
: pesos and each Of silver or other material ]
peso This is in Guatcmalan currency. with eN-
change fixed at 200 per cent at present. The
Guatemalan peso is worth about 43e cents. How
ever a recent decree provides that 80 per cent
Of the import duty shall he paid in gold its
equivalent. which adds 90 the schedule rate given.
Diamonds he bought here for less than the
cost of importing them. They were brought NJ
during the flush times in large quantities. and
the conditions have forced many into the market
A very good white S-carat stone be bought
FOR about S2Ie. and. with exchange al 80 pr
cent premium, il could not be deemed profitable
20 import them This will hold ia jeWelfy q al
kinds. and. while the present distr,s-ingly hari
times continue. IL viii l. u little avail ta at
tempt g. do any business in this lime ia fsuafs-
mala Watches can hardly - clasAsd among thc
luXurss. and II Is quite possible that small Sale
could be made
But these hard times viii not continue: the
causes which led 20 them hring rrfn@sst
and the resources - the country arr surh that
u-psuS-ltv must come again within q rea.su-
able period The building q the Northern Rail
road. which Is IN part constructed and which viii
connect this capital with Puerto Rarrios. IN the
Gulf Of Honduras. but four dSys saii from Ne,s
doubtless he completed ty United States capital
within the next two years When ths !. done.
American merchants well expect that thi-
republic will lie profitable field for business.
There is nowhere in Central America corr.
mercial agency similar 20 Dun's. and the onl,
way 10 obtain Information a. 10 the responsibility
/ Of dealers Is by enquiry % individuals or iks
hanks and this method j quite unsatisfactory.
For this reason. much 81 the business is transact
I ed through commission houses al New York or
/ San Francisco, who send representatives here
The customs duties on iewelry art as follows,
/ Gold platina. any kind oi alloy with pearl,
/ or precious stones. net weight, $50 pesos pei
kilogram (2.20i6 pounds; silver or gold silver or
I steel. any kind of alloy. with pearls or precious
/ stones, net weight, 80 pesos per kiloeram: ,olt
] or platlna. any kind OF alloy. without pearls ol
I precious stones, net weight, 80 pesos per kilo
/ gram; silver or gold, silver or steel. without
pearls precious stones. net weight 10 pesos pei
/ kiiogram- Thirty per cent Of the duties or paw
/ able IN gold or its equivalent the balance il
| Guatemaan currency.