Are the Jewels and Treasures of the World Being Cornered by American Millionaires ?

Sun (Auckland), Volume III, Issue 874, 18 January 1930, Page 18

Are the Jewels and Treasures of the World Being Cornered by American Millionaires ?

A Flood of Gems from Europe Is Pouring Into New York City

■ S America becoming the treasure house of the The rare gems of the Orient, the jewels of Kings and historic and romantic stones that played their part in the fate of nations now adorn woman in the United States. Jt is true Queen Mary still wears the great Cullinan diamond to certain State functions, and the crown collection still boasts the Kohinoor, obtained from that fabulously rich potentate, the Rajah of Lahore, by the East India Company, and presented to Queen Victoria. It is also true that the Portuguese royal house continues to carry a large portion of its private wealth in the form of that expensive bauble, the Braganza diamond. But the famous black pearls of Prince Felix Yousoupoff now grace the neck of Mrs. Peter Goelet Gerry, and the wonderful seven-foot chain of diamonds that Catherine 11. wore so regally now dazzles the eyes of the guests of Mrs. O. H. P. Belmont. Not even the jewels of Ferdinand's lady, who pawned them for trans-Atlantic exploration, have been kept inviolate. Her blue-diamond necklace cost I.eland Stanford £60,000 —enough to have kept Columbus sailing for the remainder of his life. The total value of the gems owned j fn America runs into billions. '■fiwing to the fact that jewel col-1

lections in the United States are not held intact,” says a leading American dealer in precious stones, “it is not possible to keep track of family jewels. Besides, many people shun publicity regarding tlieir possessions. But there is no doubt that grand c(jb lections are in the strongboxes of wealthy Americans. “Peggy Hopkins Joyce owns about £500,000 worth of jewels, and when I sold to her the famous £ SO,OOO bluewhite diamond there was a belief that this was press agent’s fiction. But Miss Joyce bought this gem herself. “Jewels are the most beautiful form of human decoration. The instinct for adornment is about as old as the human race, and no traveller or scientist who returns from exhuming old civilisations or studying those which still exist fails to mention in his descriptions the type and quality of decoration which distinguished that period. “Our best stones originate In India, South Africa, Persia, Siam and Russia, which have all contributed rare specimens to the American market. Persia has owned some of the finest gems in the world, but many of them were of Indian origin. Some time ago a dispatch from Teheran said that the crown jewels, having a value of more than £IOO,OOO, would be sold to raise money for railroad construction. “You have heard of the Peacock Throne. There was nothing mythical jbout. it. Reliable authorities say it nas the crowning glory of the Hall of Private Audiences in Shah Jahan’s palace. Its name was derived from i he figures of two peacocks that stood behind the seat of the Grand Mogul, their tails fully; spread and elabor-

ate’y inlaid with emeralds, sapphires, rubies, pearls and other appropriate stones. Six feet long by four wide, the throne was of solid gold set with diamonds, rubies and emeralds. “It stood on six massive feet and surmounting it was a canopy of gold fringed with pearls and supported by 12 pillars richly emblazoned with precious stones. Between the peacocks stood the figure of a parrot carved from a single huge emerald, and near the Emperor’s seat was a block of purest crystal four feet long by three feet wide and two deep, the most beautiful stone of this kind ever seen, according to reports.

“This throne was broken up and the gems carried off by the Shah of Persia. Gems from such sources constantly drift over to America. A concentrated form of wealth like precious stones is the most liquid form of asset; they are constantly shifting; they are international currency; their values are not swept away when Governments fall. “Yes, these stones drift to Constantinople, cross the frontiers of Russia, sift into China, hide themselves in Afghanistan, many of them eventually reaching the Rue de La Paix and Fifth Avenue. “The vogue for very large stones, whether diamonds, emeralds, rubies or sapphires, has never been so great as at the present time. Many large and beautiful stones are available, partly from original sources and partly from old family or royal jewels. “When securities tumble and other forms of wealth vanish, the value of precious stones remains. The desire for adornment is an ineradicable part of human nature/ 1 _