Evening star., 1927-03-02
|R|SE IN DIAMOND
PRICE PREDICTED
Louis Cartier Sees Precious
Gems as Good Investments
at Present.

Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. March 2.-America
was largely responsible for the big
South Africa diamond rush in the
Lichtenburg district. which got out Of
hand and necessitated cancellation of
all the claims located and resulted in
announcement that the government
would hold another rush" Friday.
America already holds a very large
part of the worlds precious stones
and jewels. In addition, Americans
are buying more than a hundred
million dollars worth Of jewels each
year.
Customs receipts show that s4o,-
brought here each year. This valu-
alton does not include the duty on
the stones, nor include cutting,
mounting or setting. With this huge
demand, America is the dominant
factor for the moment in the dia
mond markets of the world.
1t is a question. says Louis Car
tier, we'll known Partisan jeweler now
on visit here, where the future
supply of stones will come from.
Soviet Treasures Sold.
THE Soviets have sold all their
treasures" he said, land the best
examples of precious stones have
always come from the old mines now
being worked out. | foresee a large
rise in the price of precious stones
IN short time, due to the fact that
the f1oating supply of old stones is
exceedingly small and rests in the
hands of existing firms. There is
no doubt that diamonds, pearls,
very large rubies and sap
phires are always in great demand
and will, as they have for a long
time. dominate the fashion in iewelry.
America is destined to become the
great international art center within
the next rs Years. Almost all great
art creations have flourished in a field
OF gold. That is what the United
States is today. Spain was the center
In the fifteenth and sixteenth cen
turies when the riches Of the world
were pouring into Spanish Golfers.
France In the seventeenth century
and England in the eighteenth wit
messed the flourishing of art coinci.
dent with national power and wealth.
1t Is now Americas great opportuni.
ty to produce through its painters,
sculptors, poets. goldsmiths or jew
eler craftsmen"
No small part of the precious stones
in America are bought with the idea
Of convertible wealth in mind. Ir
many circles jewels take the place OF
savings accounts, and represent Sc.
curity readily convertible into cash.
Then, too, among a certain number. a
diamond Is the concrete symbol OF
financial prosperity and success, and
often Is the first thing bought to sig.
nifty to the owner as well as to out.
siders q change and Improvement in
status. Engagement rings alone pur.
chased in 1927 will undoubtedly repre-.
sent two scores million dollars.
Protection Great Expense.
The protection Of precious stones
entails a tremendous expense for
every nation in the world, for jewels
are held responsible for more crimes
than any other form OF wealth. From
the day the rough stone is picked
from the gravel or wrenched from an
oyster she'll, it IL guarded. Workmen
are searched inside and out. the X-ray
simplifying the former Investigations.
No small part Of the duties of the
customs officers Of the world are de-
voted to preventing jewel smuggling.
while IL jewels were non-existent the
police forces Of most cities might be
cut in half.
Diamonds have never gone out OF
style, but the style Of diamond cut
ting and setting varies as rapidly as
the designs OF women's millinery. The
present vogue tends toward the long
four-cornered designs or to square
cut diamonds.
"The jeweler is the slave OF the
M. Cartier concluded.
'for he creates for the dressed, not
the undressed woman. But neverthe-
less he can act independently and go
to the arts for his inspiration whether
that art is Of the past or Of the mod
ern jazz-skyscraper type"