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be called 'precious', but may be called 'semi-precious'. Precious stones are those that are really rare and hard to get.
This
is only an arbitrary definition. Ruby and emerald are now rare and
difficult to obtain and hence regarded as precious stones of first
rank. But if any large deposits of these were to be discovered and if
amethyst were to become rare, then amethyst would come into great
favour thus causing an interchange of rank. Again this argument is
defied by diamond. Large deposits of diamond have been discovered in
recent years. But the market is controlled by a powerful combination;
large stocks are held in reserve, and its rank as a precious stone with
its high price is maintained and aided, of course, by its intrinsic
properties.
Synthetic Gems
This
subject is treated in a subsequent chapter. Corundum of gem quality
with a wide range of colours has been manufactured artificially in
large quantities during the last 40 years. The gem trade had a very
severe competition from this source and the ruby mines of Burma
experienced a severe setback. Their Madras business collapsed. The new
stones were very popular with the poorer classes of people but the
natural stones always found favour with the middle and richer classes.
There
are 1,200 mineral species so far known and about 50 of them have been
cut and polished as gem-stones. The rarer gems are treated as precious
stones, and the more common ones as 'semi-precious stones'. There is no
law regarding prices. Common rough corundum may cost only Rs.15 per
ton, but stones of the gem quality sell by the carat, which may cost
£100 or even £1,000 for the best quality.
Qualifications of Gem-stones.—A
mineral has to satisfy the following conditions to be qualified as a
gem-stone. A gem-stone may not possess all the qualities that are
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