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The Diamond

The Diamond image
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5reat Britain, haviug forcibly taken possession of a portion of a tcrritory of the Tran-Vaal Republic in África, upon account of the discovery of diamonds in large qunntities in that rwrtion of tho coutinent, is progared to make the most out of tho robaery. President Bodenstein, of that republie, has protestad agajnst this lcLijfi-grabbing :;eheme, but the tnmsactioa beiug striotly in: aecordance with grasping British precedent, is approved of by Gladstone, and would even be sustained by Disraeii and the Tory Tho plunder taken froni these diamond fields is now coming into the market, and the result will inevitably be tho discouragoment of paste, and a decrease in the valuoof brilliants. According to the roports from the Cape of Göod Hope, the priees of diamonds are falling rapidly. Between the timo when the steamer whieh brought tho news was roady to sail and tho departure of the previous steamer, being a month, we presume, diamonds at Cape Town had fallen 25 per cent., cleariy sliowfng tliat the supply was extensive, the market glutted and buyera üwirco. In Europo and in this oountry the diamond has been cousidered a more certain investment than any other species of property, not being subject to the casualties whieh depr;ss or elévate the prico of other couimodities, and keupiuy: it.s value steadüy. In this country, at the beginning of the rebellion, there were not a few persons anxious as to tho future and doubtful as to tho result of the contest, who chose to luake an investment in procious stones, not only oa account of their supposed immunity from fluctuation in value, but also because of their portable charaeter which rendors concealinent or transportation easy. The value of theso stones was also kept up at that time by tho lucky parties connected with war contraéis, who niado moncy very fast, and deemed it necessary to restore thoir claims to wealth by glittering show. Tho first history of the diamond will probably hereafter be adverted to as "tho good oíd times." The rarity of this gcra was tho guaranteo of its appreciation by mankind, but now that it appears that it is likely to becoine eomiuon, when great tracts of couutry abouul with shining specimens, and thoyare beaoming as common as the pebbles on the livor bank, it is r.ppareut that tho time is coming wheu the person who does iot wear dianionds will bo considerod most


Old News
Michigan Argus