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PRECIOUS STONES.
Domestic production.—Although so many varieties of gem stoues are known to occur in the United States, many of which afford fine speci­mens, while a few valuable stones are exclusively indigenous, the annual output is still very small in comparison with the prospective extent of the field. It is impossible to obtain exact statistics of the product, but an extensive correspondence with experts and dealers justifies an esti­mate of between $50,000 and $60,000 as the sales in 1882 of cut gem stones of domestic production, exclusive of the gold quartz souvenirs, which should be credited to precious metal mining. The value of the stones before cutting was much less—probably little above $10,000, as about four-fifths of the market value of the stones represents the enhance­ment due to cutting. This applies more strictly to the common gem stones; and in the case of agates and moss-agates the value of the un­cut stones is often not one per cent, of the price of the gems after cut­ting. The amount stated as the value of uncut stoues is of those sold to be cut; besides which, as shown in the accompanying paper by Mr. Kunz, there are sales of small amounts, to tourists and collectors, of stones which are valued merely as specimens, and which do not reach the gem market.
Few persons are familiar with the appearance of gem stones in their native state; so that while quartz pebbles are often mistaken for rough diamonds, garnets for rubies, ilmenite for black diamonds, etc., on the other hand it is quite probable that many valuable occurrences have escaped notice. The competition of the cheap foreign cutting is also a disadvantageous factor.
Imports and re-exports.—The following tables showthe values of foreign stones imported and re-exported during a series of years. They prob­ably include small quantities of American stones, as these are sometimes cut. in Europe and thus lose their identity.
Precious stones imported into the United States during the fiscal years specified {specie values).