The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-11-25
Diamonds and Coal.

Diamonds are going up. Of course
at this season of the year diamonds
generally go up and the overcOats that
went up last spring are taken down
again. But diamonds are going up out
side Of the pawn shops as well as in
side In other words, diamonds. like
their dusky brothers, the Jumps Of
coal are becoming more valuable. but
from wholly different reasons. With
( diamonds it is a case of supply and
demand. The same is not true Of coal,
which, locally at least. appears to be
a case Of d cinch and working it. Some
of us do not absolutely have to have
diamonds and wood, but we cannot
do without coal and wood, so that the
diamond merchant, unlike the coal pro-
Queer, is obliged to give a reason for
the increased price. They say that the
demand for diamonds has increased
nightly since we all began to get rich
under this benefcent era of general
prosperity, while at the same time the
diamond mines are giving out. This
story originates at the mines of the
DeBeers syndicate Of South Africa,
which controls over 90 per cent of the
worlds production of diamonds. At
any rate, diamonds have jumped UP
20 and 25 Ger cent in the last two
years, the large stones taking a lead
of per cent over the small ones Nat
Urally, diamonds shot up when the
Beers and British began to shoot each
other Up- This was because produc-
tiOn-Of diamOnds-.Was curtailed Dur
ing the war many of us laid in a large
supply of diamonds by way of specula-
ton. Some of us did not have to sell
out thus putting Il large number Of
stones out Of circulation. while others
OF us sold at good profit. Then after
the war. and strange as IL may ap-
pear diamonds continued 10 rise so
that those we sold TO We're able to sell
at a profit and their customers in turn
were able to sell at a profit, and so on.
The importation Of diamonds during
the past year was double that of the
preceding year, and still n hungry peo-
pie cry FOR more diamonds.
Everybody knows that diamonds and
coal are close family relatives. Had
not diamonds taken this unexpected
jump it would soon, in all probability,
have been possible 90 prove that dia-
mOnds and coal are twin brothers by
comparing their selline prices The
story that the diamond mines are pc
terins out has a dshy flavor. and leads
to the irresistible conclusion that the
diamond supply of the world is con
trolied by the coal trust This explains
why diamonds jumped up just before
coal began to rise. It was necessary
to boost diamonds to prevent the pub
lie from filling the coal shed with dia-
mOnds and wearing Jumps of coal for
purposes Of orpamentatiOn. Had dia-
monds not advanced they would now
be about on a par with coal. which
would have ruined both industries for
the trust magnates. There are indie
pendent coal operators who could have
overcome the obstacle OF freight tariffs
by mounting Jumps Of coal ar the mines
and sending the finished product to
the jewelry merchants. The independ-
ent diamond mines are limited. and
diamonds a s fuel would have had to
go against the humble stick Of cord
WGod, which would spell ruin for the
producer. Hence, diamonds.
which are easily controlled by the
trust. were advanced. Il was the only
solution Of the problem from the stand
point of the trusts and was at once
seized uDOn.
The moral is: Hold to your dia-
monds and burn wood If you can get it.