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THE DIAMOND.
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The royal collection of England is said to contain the diamond
signet-ring of Charles II. when Prince of Wales, bearing the ostrich plumes. Trade and price.—Diamonds are subject to the same commercial laws which govern the value of every other commodity
— those of demand and supply. There has been a gradual advance in the price of these gems for the last thirty years, partly on account of the exhaustion of the Indian mines, partly the falling off in the supply from Brazil, and partly on account of the constantly increasing demand for them. The proportionate increase in the price for small stones has been greater than for large ones. Colored diamonds, when of a decided, beautiful hue, as red, green, blue, and some other tints, frequently bring a very great price. It is said that a fine green specimen of only eight grains, belonging to the collection of the Marquis of Dree, was sold for a sum equal to a large fortune. It has been estimated that diamonds represent ninety per cent of all the large amount of capital invested in precious stones, which proves their use as an ornament vastly exceeds that of any other gem. They are sold by a weight called a carat, a word of Indian origin, supposed to be derived from the seed of a plant, and varies in different countries ; formerly, it was reckoned at four grains troy, " even beam," but now it falls below that weight.* In its early history, the diamond had no fixed standard of
prices, but later a rule was adopted, by which the value was * It is reported that a standard of the diamond carat at .205 grains was
agreed upon by a syndicate of Parisian jewellers, goldsmiths, and gem dealers, in 1871, and was subsequently confirmed by an arrangement between the diamond merchants of London, Paris, and Amsterdam. |
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