The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-06
AMERICANS BUY RICH GEMS.
Purchase of Diamonds a True Barom-
eter Of the Country's Prosperity.
Chicago Chronicle

The value of the Jewels and precious
stones imported into the United States is
otten said to be the best barometer OF the
country's prosperity, and quite possibly
this is the case, since very few gems are
produced In the United States and since
the demand for them, which must be salts
ned by transportation, is not likely to be
widespread unless people are making moro
money tnan they actually need to ACCORD
with their standards of living There are
SAID to be some people who will go with
empty stomachs In order to sport diamonds,
out these In the aggregate are probably
not numerous. and. at any rate their pur-
chases through such privations cannot be
very extensive, since one good diamond
or ruby or emerald costs about as much as
would feed and clothe an ordinary per-
son for a year. 1t is a wel-accepted fact
among dealers in jewels that when pros
perity is widespread their sales increase
rapidly, aud that when hard times come
theirs is about the first business to feel
the depression.
If it be admitted that the trade in gems
Is faithful indication of the industrial.
situation one must acknowledge that the
fiscal year which ended with the first half
OF 1903 was the most prosperous in the his
tory or the country, for the value of the
precious stones imported during that pc
Rod was far In excess of ANYTHING pre-
viously recorded According to the com
pilatiop of the government officials which
has just been completed, diamonds and
other precious stones of a value exceeding
sO,ocoVp were brought into. the United
80.
l9O3 and even this enormous total is prob
ably below the actual value, for the fig
ures are taken from the invoices of the i'm
porters, who are not likely to overvalue
packages on which they must pay a high
import duty. -
1t is interesting to compare the figures
given above with those for previous years.
In 1902 the Importation on this account
amounted TO $23, 200; in 1901 to $50 600 600:
in 1899, to $4,000. 0O0 in 1885, to SO 600 600. i'm
1877 to s. 500 600; in 1896 to S. OoO in 1895,
to 1880 600; In 1884, to $5,5OO,0O0 Between
1887 and 1890 they had increased from $40 OG1
coo to $16.000,000. but I'm the next three wears
they fell off even more rapidly TO So 900 600.
The influence of the depression of 1893 is
very clearly marked in the small importa-
lions for the following year. while the tide
of prosperity which set in in 1898 has car
ried the figures far beyond all previous rec
o ond I'm linus the total value of diamonds
states In the year just ended was half again
as great as in the preceding wear more
IMAM IMAM twice as great as in 1899, and three
times as great as In any year down to 1887
Verify the love for jewels must grow by
what it feeds upon.
At present there exists discrimination
Oh III per cent. In favor of the cutting of
precious stones in America, with the result
that steadily increasing proportion of the
total imports are in uncut form. Thus the
value of uncut stones imported has in
creased from 81, 100000 in 1898 to $40 600 OO0 I'm
1903. or about one-third of the total. "
While nearly all the diamonds are at pres
mines of South Africa most of those
brought to the United States are Skinned
from Antwerp, Amsterdam, or London. and
enter the port of New York. The two for
mer cities are the center of the diamond
cutting industry, while London Is the great
diamond market of the world and New
YORK occupies similar position In Amer
lea. The greatest quantities of gems arc
brought in by the Red Star steamers from
Antwerp and by the American line from
London via Southampton, though nearly ali
the fast liners have share in the trade.
One might suppose this an extremely
profitable kind of cargo for the STEAMSHIPS
to carry since the freight is paid ACCORDING
to value and since n small box six inches
long and less than that in width and denth
may pay $500 or $500 in transportation
charges. But this same box may contain
100000 worth of gems and. of course mart
of the freight rate Is really paid for the 1n
surance of their safe carriage In carrving
packages of this tremendous value extra
ordinary precautions must be taken They
are immured I'm strong safes and are care
fully. guarded and In addition the shipper
usually takes the precaution of insuring
them with the marine companies apainss
the possible loss of the vessel