British Guiana.—The
output of diamonds in British. Guiana is chiefly in small sizes. The
government report for the year ending June 30, 1907, shows a production8
of 65,903 stones, weighing 4,718 carats. The change from the preceding
year was not large, though in 1904-5 the output was 175,400 diamonds,
weighing 10,619 carats. An idea of the value of British Guiana diamonds
may be gained from the exports between January 1 and September 18, 1907,6 which are placed at 1,564 carats, valued at $12,370.
INDIA.
The production of diamonds in India0
is given for 1906 as 305.9 carats, valued at £5,160, as against 172.4
carats (valued at £2,474) in 1905. The increased production came
chiefly from Panna, where the value of output was £4,348. The remainder
of the production came from the states of Charkhari and Ajaigarh.
NEW SOUTH WALES, d
The
total production of diamonds in New South Wales between the years 1867
and 1906 is given as 157,137 carats, valued at £104,089. The largest
productions recorded were in the years 1899 and 1904, being 25,874
carats valued at £10,350, and 14,296 carats valued at £11,620,
respectively. The production for 1906 was considerably smaller and
amounted to 2,827 carats valued at £2,120.
DIAMOND INDUSTRY.
The
consumption of diamonds in the United States is ordinarily large and
amounts to over one-half of the world's production. With the immense
tailing off in purchases of diamonds in the United States caused by the
financial depression in 1907 and reduced sales in other countries, the
diamond industry has had to face a serious situation. The decreased
demand for diamonds has affected all branches of the industry. Large
numbers of cutters, not only in the United States but also abroad, have
been without employment for several months. Several diamond mining
companies have been forced to close their mines or limit their output.
At one time it was rumored that the price of diamonds would fall when
the agreement of the De Beers and Premier diamond mining companies with
the diamond buying syndicate expired in the latter part of March, 1908.
The reduction of price by one large company would have precipitated a
war of low
prices
with the other, and this would have ruined those dealers with large
stocks of high-priced diamonds on hand. The six months' agreement made
in 1907, by which the diamond buying syndicate was to purchase the
output of the Premier mine at a certain value proportional to that paid
for the De Beers output, was not renewed after expiration in March,
1908. Frequent assurances, however, have been given to diamond dealers
and merchants by both the De Beers and Premier mining companies and the
diamond buying syndicate, that the price of diamonds will be
maintained under all circumstances.
a Mining World, April 18,1908.
'Mining Jour., London, October 12,1907.
c Rec. Geol Survey India, vol. 36, pt. 2,1907.
d Ann. Kept. Dept. Mines, New South Wales, 1906, p. 53.
