The same author^[398] gives tables expressing the values of pearls not perfectly spherical in form, which he designates as “perle dolce.” These pearls he considers to be worth half the price of good round pearls; that is to say, 2½ lire (about $.50) per carat for four weighing together one carat. Where there are as many as three thousand of these “perle dolce” in an ounce, the 2½ lire base is multiplied by 576, the number of grains given to the ounce; this makes the value of an ounce of one-grain pearls $288. This amount is then divided by 3000, and the quotient, $.096, represents the value of one carat of these small pearls. Multiplying this by 144 we obtain, as the value of an ounce of such pearls, $13.82. An ounce consisting of two thousand would be worth $20.73, while if there were but one hundred to the ounce it would be valued at $414.72, or $4.15 for each pearl and $.72 per grain of weight. In this latter case the pearls would average 5¾ grains. Another class of pearls denominated by this author as “scaramazzi,” pearls of an irregular form and with protuberances, are estimated in a similar way, but at exactly half of the above values. The baroque pearls were not considered to be worth even half as much as the “scaramazzi.”

Scotch pearls (fresh-water) are mentioned by De Boot (1609, p. 88 sq.) among the other western pearls—Bohemian, etc. He remarks that they were valued much less than the oriental pearls, but if they were of especially pure color their value was greater, although they lacked the silvery hue characteristic of the eastern pearl. Fine pearls of this sort were valued on a carat base of one fourth of a thaler ($.27), so that a forty-grain pearl was worth $27, and one of eighty grains, $108. The author of the Bologna treatise, “Delle Gemme,” 1791, attributes the lack of luster in the Scotch pearls to the presence of a dark mass in the interior which interfered with the passage of light. He estimates Scotch pearls to be worth one half the value of oriental pearls of mediocre quality, provided the former are fairly good.

A Scotch writer of the seventeenth century is more enthusiastic in regard to these pearls; he mentions having paid one hundred rix dollars for an exceptionally fine one, but he does not specify its weight. This is the value given by De Boot for a pearl of this class weighing eighty grains, as we have just mentioned. The Scotch writer asserts that he could never sell a necklace of fine Scotch pearls in Scotland itself, as every one wanted oriental pearls; he continues: “At this very day I can show some of our own Scots Pearls as fine, more hard and transparent than any Oriental. It is true that the Oriental can be easier matched, because they are all of a yellow water, yet foreigners covet Scots Pearls.”

In Ceylon^[399] and India, pearl-grading and valuing has received close attention, and an elaborate system has been evolved by the pearl merchants. This system has been in use for generations and possibly for centuries. Although apparently very complicated, it is in reality quite simple, if we only remember that the value of inferior pearls is determined by their weight, whereas the value of superior pearls is computed from the square of their weight.

The pearls are first grouped according to the size, of which ten grades are made. This is done by passing them successively through ten brass saucer-like sieves or baskets (peddi), each about three and a half inches in diameter and one inch deep. The holes in the bottom of each sieve are of uniform size, but they are graduated in size for the different baskets. The pearls are sifted in the basket with the largest holes, and those which will not pass through are of the first size. The pearls which pass through are then sifted in the second basket, and those retained are of the second size; and so on through the entire series of ten sieves or baskets. Those which pass through the tenth sieve are known as masi-túl, or powder pearls; they are of little value owing to their very small size, and are not subject to further classification. Of course, the attached pearls or very irregular baroques—the oddumuttu—are not subject to the sifting process, and are valued independently of this.

Sometimes in India, as well as in western countries, false measures are used, and an oriental pearl merchant may have one set of sieves for use in buying and another for selling. The rule for determining the proper size of the holes in the first sieve is that they may pass pearls weighing 20 to the kalan̄chǔ, whence this sieve is commonly known as the “20 peddi.” The second sieve is the “30 peddi,” since it passes pearls weighing 30 to the kalan̄chǔ. In the proper order the other sieves respectively pass pearls requiring 50, 80, 100, 200, 400, 600, 800, and 1000 to the kalan̄chǔ.

This use of sieves for grading the Ceylon pearls was mentioned by Cleandro Arnobio, a writer of the latter part of the sixteenth century, in his “Tesoro delle Gioie,” and he took his description from an older writer, Garzia dell’ Horto.

After the sifting, each of the ten graded lots of pearls are placed on pieces of cloth for classification as to quality, shape, and luster. This classification requires much skill and judgment on the part of the valuer. Not only will two persons commonly fail to class a large lot of pearls exactly alike, but one person is not likely to class the same lot twice in precisely the same manner.

From long established custom, recognition is made of twelve classes into which the ten grades or sizes of pearls are divided with respect to shape and luster, the local names of these classes giving a fair indication of their respective characteristics. These names are:

1

Ani, “best”: perfect in sphericity and luster, the true orient pearl.

2

Anatári, “follower”: failing slightly in sphericity and luster.

3

Masanku or Masaku: badly colored pearls, usually gray, symmetrical, and with luster.

4

Kaiyéral, “the clasp of a necklace”: a dark-colored treble pearl, not quite round.

5

Machchakai.

6

Vadivu, “beauty,” also “decreasing”: that which is strained or sifted; found in the 100, 200, and 400 sieves. These small pearls, regular in shape, and of good luster, are especially favored in the East.

7

Madanku, “folded,” or “bent”: all pearls of vadivu size that are imperfect in form or color.

8

Kǔrǔval, “short”: deformed and double pearls; they may, however, be of excellent luster. Ani Kǔrǔval: where two áni are fused together, but so formed that if separate they would be perfectly spherical. Písal Kǔrǔval: where several pearls of good luster and color are fused partially and irregularly together. Pampara Kǔrǔval: a pearl grooved regularly, like a top.

9

Kalippu, “abundance,” or “rejected”: inferior to Anatári; a good pearl, may be lens-shaped or elongated; usually flattened.

10

Písal, “torn”: a deformed pearl or cluster of small misshapen pearls; of poor color and of little value.

11

Kurál: very misshapen and small.

12

Túl, “powder”: the seed-pearls, those retained by the 600, 800, and 1000 sieves.

In addition to the above designations, the following are also used:

Samadiam: a pearl of a reddish hue; pear-shaped but of dull color.

Nimelai: a nose-pearl, perfect skinned, and pear- or egg-shaped.

Sirippu: a pearl grooved with irregular wrinkle-like furrows.

Kodai, “brown”: like a nut, with no nacreous luster; formed of prismatic shell; may be large, is usually spherical, and includes pearls of various colors. This name is also used for white pearls with black or brown marks. Van Kodai: a kodai pearl with one side nacreous. Karunk Kodai: a black or blue-black slag-like pearl.

Masi-túl, “ink-dust,” or “chalk-powder”: smaller than the 1000 sieve. Generally used for medicinal purposes, or burnt and eaten with areca-nut and betel by the natives.

Oddu—or Ottumuttu, “shell-pearl”: an attached pearl or nacreous excrescence on the outside of the shell.

Of the twelve classes named above, the first four are known as the chevvǔ, or superior classes; the next three as the vadivu, or beautiful classes; and the last five as the kalan̄chǔ, or inferior classes. The chevvǔ pearls are found only in the first four sieves or baskets; and for this reason these are known as the chevvǔ peddi or “chevvǔ baskets,” although they may also retain inferior pearls. A name used to indicate the class of pearls found in the first four sieves is mel or melmuttu, “upper” or “superior pearl,” while vadivu designates those retained by the next three and túl those of the last three.

After the pearls have been graded according to size and classified according to quality, they are weighed. The unit of weight is the manchádi, the seed of Abrus precatorius, a small, red berry of practically uniform weight when ripe. H. W. Gillman of the Ceylon Civil Service reports the weight of the man̄chádi to be 3.35 grains troy. Fractional parts of a unit are obtained by using a berry called kundumani, grains of rice, etc., whose weights have been determined beforehand. A brass weight—the kalan̄chǔ—is also employed; it equals 67 grains or 20 man̄chádi.

However, choice pearls—those of the superior classes—are not valued in this manner, but at so much per chevvǔ of their weight, which is three fourths of the square of the weight in man̄chádi. Thus, to find the value of an anatári pearl in the second sieve, if the weight be found to be three man̄chádi, three fourths of the square of three, or 6¾, is multiplied by the base value of the anatári class.

The actual process of the calculation of value is as follows: owing to the small size of the pearls, many fractions enter into the computations; to preserve uniformity it is customary to increase all fractions so that each may have 320 as a denominator, this being a common multiple of those that ordinarily arise in chevvǔ calculations. The weight in man̄chádi of the pearls is increased to a fractional figure having 320 as a denominator. Three fourths of the square of the numerator of this fraction is divided by the number of pearls, and this quotient is divided twice consecutively by 320, giving the chevvǔ of the weight. The market value then follows from the quoted price of the pearls per chevvǔ at the time.

In actual practice, these computations are not made; but each merchant provides himself with sets of tables showing the calculations for different weights, analogous to the use of interest tables by bankers, or of tables of logarithms by surveyors. Some of the merchants commit these tables to memory, and at times may be heard reciting them quietly to themselves to refresh the memory.

If a pearl of a particular grade and class is of exceptional merit, the merchant adds somewhat to the money value computed by the above process. This applies especially to double pearls of the kǔrǔval class, which sometimes consist of two fine bouton pearls suitable for setting, but not for stringing.

Pearls of one of the inferior or kalan̄chǔ classes are valued by simple weight, at so much per kalan̄chǔ, the market price, of course, differing for pearls of the various classes. The weight having been ascertained, each in its class as before noted, the value is determined by multiplying that weight by the current market price per unit of such pearls, at so many rupees per kalan̄chǔ.

The star pagoda is used in calculating the values. This small gold coin was current in south India in the early part of the last century. In the computations it is considered to be worth three and a half rupees, although its intrinsic value as a gold coin is about six rupees.

It is considered probable that the London syndicate,^[400] which has lately leased the Ceylon pearl fisheries for a period of twenty years, will do away with the complicated calculations employed for so many generations, surviving all changes of administration, Portuguese, Dutch, and British. This is only one of the many instances showing the tendency of the British Government to abolish time-honored usages in India, without regard to the wishes of its population; and, unimportant as many of these changes may seem to us, they all serve to foster a spirit of discontent that may lead to serious trouble. This conduct on the part of Great Britain is all the stranger in view of the stubborn opposition of that country to the adoption of the scientific and logical metric system.

In Bombay, the weight of pearls in tanks is made the basis of their valuation; the tank equals 24 ratti or about 72 grains troy. The square of the number of tanks is multiplied by 330 and the quotient divided by the number of pearls; this gives the number of chevvǔs, or chows, as they are sometimes called, and the market price of the chevvǔs for a given class of pearls shows their value. If, for instance, we have 56 pearls of a certain quality, weighing 5 tanks, and the chevvǔs of these pearls is worth 14 rupees, the sum would be as follows:

In this case, as in the other system of weighing which we have mentioned, the chevvǔs is only a nominal weight; but there is in India a real weight unit which bears this name.^[401]

The high esteem in which the pearl was held by the Hindus is well illustrated by the following statement from an old treatise on gems: “A pearl weighing two kalan̄jas (about 180 grains) should not be worn even by kings. It is for the gods, it is without equal.”^[402]

An interesting account of a great savant’s experience, in the early part of the sixteenth century, regarding the value of pearls, is given by Guillaume Budé^[403] (1467–1540), the celebrated French Hellenist who lived during the reign of Francis I and who is regarded as the founder of the College de France. In his work entitled “De Asse,” he states that he once inquired of a gem dealer in Paris whether the latter could recall the weight of some remarkable pearl which had passed through his hands. The dealer replied that he had seen one weighing 30 carats (120 grains), whereupon another gem dealer, who was present, remarked that he had in his possession one of 40 carats (160 grains). This pearl was sold a few days later for 3000 gold crowns ($6750). On another occasion Budé was told that a pearl of exquisite beauty weighing 30 carats, had been sold to the Duchesse de Bourbon, daughter of Louis XI of France, for the sum of 4000 gold crowns ($9000).

In regard to the manner of computing the value of pearls Budé writes: “I think the ratio of these prices can be calculated. When I asked a gem dealer what was the value of a pearl of four carats [sixteen grains], according to the formula, he replied: ‘I have seen such a pearl sell for thirty gold crowns [$67.50].’ Whereupon I asked: ‘How much would you estimate one weighing eight carats [thirty-two grains]?’ ‘At least two hundred gold crowns [$450],’ he answered; and as I continued to ply him with questions, gradually increasing the weight, he responded in such a way that I could understand that the increase of the price bore not a numerical, but a proportional relation to the weight; so that the above mentioned eight-carat pearl, having double the weight of a four-carat pearl, was valued at seven times as much. The same was true of a pearl weighing twelve carats, twenty carats, and so on; the price augmenting by a greater and greater increment as the weight increased.”

In the “Coronae Gemma Noblissima” of Wilhelmus Eo (1621, pp. 32, 33), an instance is given of the rapid changes that are possible in the worth of a pearl. A large and beautiful pearl was brought to Nuremberg by a merchant who had paid 500 florins for it; he soon found a purchaser among the merchants there, who was willing to pay him 800 florins. This latter merchant in his turn disposed of his gem for 1000 florins, and shortly after it again changed hands twice, the first time at an advance of 200 florins and the second at an advance of 300 florins. All this happened within a few days. The writer tells us that the last purchaser, who paid 1500 florins for the pearl, took it with him to Venice “where the wealthy dames wear a great treasure of beautiful pearls as necklaces upon their bare skin, and he will not have lost anything on his pearl there.”

In 1884, Mr. Edwin Streeter was asked by a member of a London syndicate to proceed to the East, to value a large quantity of jewels, as a heavy sum of money was about to be advanced to a certain Power, to provide the sinews of war. On his way he was requested to stop at one of the principal towns in Germany to purchase some jewels which had been valued for probate but were not easy of sale in that market. The valuation paper was shown to him, and after examining the ornaments, he agreed to take them at the prices named. Among them was an old gold brooch of Russian manufacture, valued at £4; in the center of this brooch was what appeared to be a piece of hematite, but was in reality a fine, round, black pearl, weighing 77 grains. The color had faded from exposure to the sun. This pearl was brought to London, and the outer layer was taken off, when a perfect black pearl of 67 grains was uncovered. This was sold to a manufacturing jeweler in London for £400; but, having heard that in Paris there was a pearl that would exactly match it, Mr. Streeter bought it back again for £600, and then sold it at a large profit to one of the Paris crown jewelers, who, in his turn, sold the pair to a rich iron merchant for 50,000 francs (£2000 or $10,000). Since then the sum of 100,000 francs (£4000 or $20,000) has been refused for this pair of matchless black pearls. At present values they may be worth double this sum.

At different times the values assigned to the different forms and colors of pearls have varied. For instance, in the French Encyclopédie of 1774 (Vol. XII, p. 385), it is stated that pear-shaped pearls, although they might be equally perfect and of the same weight as round pearls, were valued much less than these. Even in the case of well-matched pairs, their price was a third less than that of round pearls.

As early as the sixteenth century it was not uncommon that jewelers who had in their possession a fine pear-shaped pearl would have a replica of it molded in lead, and then send the casts to the large cities of Europe and the East. If a mate was found for it, the respective owners soon came to terms, for such pearls command a much higher price together than they do separately.

An interesting story is told of no less a collector than the Duke of Brunswick, who was so generous to the city of Geneva. For many years every pear-shaped pearl from every land had been submitted to him for examination. He always claimed the privilege of examining it alone for a moment or two and in every instance he returned it. At last a new pear-shaped pearl of marvelous size and beauty was heard of in a distant country. It was sent to Germany, where the duke was visiting at that time, to a local dealer who acted as agent for the owner. The price demanded for it seemed excessive, but the duke took the pearl, stepped aside for a moment, and said, quick as a flash, “The pearl is mine.” The next day he showed it with a mate he had owned for many years and that was a most faultless match. Through all the years of his search he had never informed any one of his intention to match the pearl he already owned.

In 1879, at the time of the death of the father of Sultan Buderuddin of the Sulu Islands, a box of large and fine pearls was among the treasures he left behind him. Many of these disappeared, but some of them came into the hands of Sultan Buderuddin and his mother. The former sold those which he had inherited, in order to defray the expenses of a pilgrimage to Mecca, in 1882. His mother, who exerted a great influence over the conduct of affairs, retained a number of the pearls, and it was always difficult to induce her to part with any of them. When, as very rarely happened, she was persuaded to do so, she invariably got a higher price for them than they would have commanded in London, because she was never anxious to sell, and always said: “Why should I sell my pearls? If the Spaniards come to attack us, I can put them in a handkerchief and go into the hills; but if I had dollars I should need a number of men to carry them.” We do not yet know what became of the stolen pearls.

Many times has a dealer put nearly all that he possessed into a fine pearl or necklace, frequently without a reward; often gradually buying more and more, hoping for some great patron to relieve him. When the client appears, there is happiness, but when he does not, there is woe. This instance is well illustrated when Philip IV of Spain asked of the merchant Gogibus: “How have you ventured to put all your fortune into such a small object?” “Because I knew there was a king of Spain to buy it of me,” was the quick reply. And Philip rewarded the faith of the jeweler by purchasing the pearl.

Caire and Dufie^[404] state:

We need have no fear that either the price or the use of pearls will diminish when we consider the great demand for them both on account of luxury and superstition. There is no Hindu who does not regard it as a matter of religion that he should pierce at least one pearl on the occasion of his marriage. This must be a new pearl which has never been perforated. Whatever may be the mysterious signification, this very ancient usage is, at least, very useful for the commerce of pearls.

In 1898, one of the writers had a long talk with his late chief, who had, at that time, devoted sixty years of his life to the jewelry profession. In the course of the conversation the latter remarked: “It seems to me that pearls are too dear”; to which the writer rejoined: “Have pearls ever gone down in price during your entire connection with the jewelry profession?” The answer was: “No, they have always advanced.” Whereupon the writer said: “I can give you statistics for two hundred years preceding your earliest experience, which prove that pearls constantly advanced in value during that period.”

The following are the names given to the different kinds of pearls, according to their origin.

The term “oriental” designates those pearls that are found in the true pearl-oyster, and have a marine or salt-water origin, being found either in the ocean or one of its adjacent tributaries, and belonging to one of the numerous species of the Margaritiferæ.

The term “fresh-water” is given to those pearls that are found in the fresh-water brooks, rivulets, rivers, or fresh-water lakes, and not in salt water, and which belong to the Unionidæ.

The term “conch” is applied to that variety of pearl which is usually pink, or yellow, in color, and that is either found in the univalve shell, known as the common conch (Strombus gigas), or in the yellow shell (Cassis madagascarensis).

The word “clam pearl” is used to designate those pearls that are found in the common clam of the Atlantic coast, and are either black, dark purple, purple, or mixed with white, more especially if they are boiled.

“Placuna pearl” designates those pearls that are found in the Placuna, or window-glass shell, in the East. They have a micaceous luster, are rarely of much value, and are sold entirely in the Orient, almost exclusively for medicinal purposes.

“Oyster pearl” signifies those concretions that are found in the common edible oyster (Ostrea). They are generally black, purple, or with a mixture of black and white, or purple and white. They are devoid of nacreous luster and possess neither beauty nor value.

“Coque de perle” designates the globuse walls of the nautilus and possibly other shells that have a pearly nacre; they are almost hemispherical and are either round or long, having a pearly effect.

“Abalone”: a name applied to those pearls that are found in the univalve “ear-shell” or awabi, as it is called in Japan. They are generally green, blue-green, or fawn-yellow, and have an intense red, flame-like iridescence. They are rarely round, generally flat, or irregular, and are occasionally worth several hundreds of dollars each.

“Pinna pearls”: those pearls that are found in the Pinna, or wing-shells of the Mediterranean and adjacent seas. These possess no orient, but are more highly crystalline than any other pearls. They are almost translucent and have a peculiar red or yellow color, and are of little value except locally.

“Cocoanut pearl”: this name is given to those pearls that are found in the giant oyster or clam of the vicinity of Singapore; they are erroneously called cocoanut pearls because they have the appearance of the meat of the cocoanut. They are often of great size, but have no commercial value.

The following are special designations of the different varieties of pearls according to their forms and appearance:

Paragon: this term was formerly used to designate large and exceptionally perfect or beautiful pearls, usually weighing over one hundred grains.

Round: when the pearl is absolutely spherical, as if turned on a lathe, without any flattening or any indentations on the sides.

Button or Bouton: if the pearl is domed on top and has either a flat or slightly convex back.

Pear-shaped: when the pearl is formed like a pear, terminating in a point, and is either flat at the lower end or rounded.

Drop-shaped: when the pearl is elongated like a pear, but is larger at the lower end than a pear-shaped pearl.

Egg-shaped: when ovate in form, rounded more or less at each end, or formed like an egg.

Cone-shaped: applied to pearls that are elongated and rounded with one flat end, and have the form of a cone.

Top-shaped: a name given to those pearls that are broad, flattened at the top and rounded on the sides, terminating in a point, like a top.

Seed-pearls is a name given to pearls that are round or irregular, and weigh one fourth grain or even less. They are frequently so small that 18,000 are contained in a single ounce, and they are often sent from the East in bunches of about a dozen or so of strings.

Dust-pearls. When seed-pearls are very small they are known as “dust-pearls”; they are really as fine as dust and have very little value; still, their form is in many cases wonderfully perfect.

Petal pearls are those which are somewhat flat, frequently more pointed at one end than at the other, and have the appearance of a petal or leaf.

Hinge pearls are those pearls that are long, generally pointed at either or both ends, and are found near the hinge part of the shell. They are divided into two distinct forms, namely dog-tooth, and wing-shaped.

Wing pearls: those that are elongated or irregular, resembling a wing or part of a wing.

Dog-tooth: applied to pearls with pointed ears, elongated, and which are narrower than the wing pearls.

Slugs: a name used for the very irregular, distorted pearls, frequently made up of masses or groups of small pearls; usually without luster or form, and of little value except for medicinal purposes.

Nuggets: when the pearls are somewhat round, but are indented or slightly irregular.

Haystacks: when the pearls are either round or oval, with the top considerably elevated.

Turtlebacks: when the pearls are a trifle longer than they are wide, with a domed surface not much elevated. This form is quite prevalent among American pearls.

Strawberry pearls: those that are round or elongated and entirely covered with prickly points, somewhat resembling a strawberry or pickle. It is believed that these irregular marks are frequently produced by minute pearls.

“Blister” and “Chicot” are names applied to those pearls that are found embedded within a nacreous coating, often containing mud, water, or imperfect mother-of-pearl. After these “blisters,” as they are termed, are broken, and layer after layer has been removed from the contents, very fine pearls have frequently been found.

Peelers: a term applied to pearls having imperfect surfaces or skins that may have some inner layers which are perfect. Pearls having opaque bands or rings are rarely peeled with much success as this opaque layer frequently extends to some depth.

Cylindrical pearls: for pearls that have the form of a cylinder, being elongated and flattened at each end.

Hammer pearls: when pearls are long and somewhat rounded and assume the shape of a hammer or barrel. These are rounded or domed at the side and flattened at the ends.

Baroque (Wart pearls in German): when pearls are not of any perfect form such as round, pear, ovate, or any regular form, they are termed baroque, and this term covers a large class of varieties, such as all that follow (except seed- and half-pearls).

Double, triple, or twin pearls are those that are made up of two or more pearls united together in a single nacreous coating, showing, however, that they are still separate pearls.

Monster pearls: this name was formerly applied to very large, irregular, pearly masses which either resembled some animal or were adapted to form the head, trunk, or other part of an animal: these are also occasionally called “Paragons.”

Bird’s-eye: a name used for a pearl that has dull spots, giving it the appearance of a bird’s-eye.

“Ring-a-round” is a term applied to such pearls as are black, brown, pink, or white, and have a circle running around the pearl itself of some distinctive contrasting color, as white on black, pink on brown or black on white.

Embedded pearls are those that are partly or entirely surrounded by mother-of-pearl, having been enveloped and passed outward from the interior of the shell by the mollusk so that in time the pearl would have been lost on the outside of the shell. These embedded pearls are occasionally found in the manufacture of mother-of-pearl articles. When the mother-of-pearl is split, the pearl will fall out from between the layers.

Half-pearls is the name given to such pearls as are round and spherically domed, and are either somewhat flat or almost the shape of one half of a whole pearl of the same diameter. They are usually made by cutting off the best part of a hemispherical bright spot from a large irregular pearl; frequently two to four cuttings are made from the bright spots of a single pearl, each of the cuttings having the appearance of half a pearl.

The so-called Indian pearls have a faint rosy tint with much orient. These are generally pearls from the Ceylonese fisheries that are sold from the Bombay side. The term “Madras white” describes the whiter varieties, there being a preference for these in Madras, while the rosy, yellow, and darker shades are favored in Bombay.

Australian pearls are generally a pure waxy white and lustrous, often with a silver-white sheen, extremely brilliant and beautiful.

Nearly all the Venezuela and Panama pearls have a faint golden-yellow tint, very often extremely lustrous, and are especially desired by the darker skinned people and brunettes.

The preference at various times has varied with different peoples: in China and India, golden-yellow and satin-yellow pearls are preferred; from Panama we have the very white; in Bombay the yellow pearls from the Persian Gulf are highly appreciated.

Yellow pearls from other shells than the pearl-oyster are frequently offered for sale in the East, where they are greatly appreciated, although they find little favor in England. Some of these pearls are attributed to the pearly nautilus (Nautilus pompilius). This may be the case with those that have a pearly luster, but those that have the appearance of porcelain, and are as bright as polished china, are certainly not from this shell, but evidently from the large Melo or other shells of that character. Some may come from the large conch (Cassis madagascarensis). A yellow pearl, very perfect in form and color, and weighing more than one hundred grains, was shown at the Paris Exposition of 1889 and was valued at 50,000 francs.

Wonderful golden-yellow pearls with a saffron tint are unusually lustrous and beautiful. One of the most remarkable pearls of this character is of a brilliant golden-yellow color which belongs to an American lady, and weighs 30½ grains. These pearls are from Shark’s Bay, West Australia, and only a limited number of them are found annually.

Black pearls do not seem to have been regarded with any favor by the ancients, and we find no mention of them by medieval writers. Only fifty years ago a perfectly round, black pearl, weighing 8 grains, was sold for £4 ($20); to-day this pearl would easily bring £100 ($500). Empress Eugenie, the wife of Napoleon III, may be said to have brought them into favor; she owned a splendid necklace of black pearls which was sold at Christie’s, after the fall of Napoleon, for the sum of £4000 ($20,000). Some time later, the Marquis of Bath bought, at Christie’s, the pearl which formed the clasp of the necklace, paying £1000 ($5000) for it; he destined it for the center of a bracelet.

Greenish-black pearls are perhaps valued higher than any other colored pearls, if they have the proper orient; this is probably partly owing to their rarity. A bluish-black pearl possessing a fine orient commands almost the same price as a pure black pearl. Those which are found in the Placuna placenta are often of a dull gray hue, while those produced by the Pinna squamosa are generally brown in color.

Baroque pearls were formerly much worn and appreciated in Spain and Poland. Their price varies greatly, according to their size, their beauty, and also to their scarcity in any particular place. The pieces of pearl detached from the shells—often half-pearl and half mother-of-pearl, and called “de fantaisie”—are always very irregular in form, and sometimes offer a certain resemblance to a part of the human or animal form.^[405]

How is it that such quantities of jewels are continually brought from the East, and such a wealth of them continues to exist there, when there are now no very extensive mines that maintain a constant supply? The reason is that from time immemorial, precious stones have been the form in which wealth, in those lands, has been hoarded and preserved. Until very recently, in the Orient, interest-bearing securities have been unknown; and hence jewels have been sought and kept as an investment, and sold only when money was needed for special purposes, as in times of war, famine, or other emergency.

Their small bulk made them easy to conceal and to transport, and hence they were well adapted for such use. How long this condition will last, is perhaps dependent only upon the introduction of interest-paying investments, and of the new forms of Western civilization that involve greater expenses and require means of income in excess of the older and simpler conditions.

The wealth of jewels possessed by Oriental monarchs, notables, and dealers, has been the theme of story and tradition, time out of mind. We of the West have been disposed to regard these tales as largely exaggerated, and to some extent they may be; yet any one who has witnessed an important social function or state occasion where East Indian rajahs and nabobs are present, knows that the profusion of jewels which they wear is simply astounding to our Western eyes. These objects represent, moreover, the gatherings of generations and centuries; they are heirlooms and ancestral treasures, priceless to their owners as the pride of their houses; handed down from fathers to sons in long succession; and they have also the investment feature already noted, in that whenever necessity arises they can be turned into available funds.

The manner of keeping and of selling such objects is also different from ours. If it be a question of buying gems from an Eastern owner, the best are never shown first, but on the contrary, the most inferior. The purchaser must either be content with these, or else must prove clearly that he is a substantial buyer or evince a knowledge and appreciation that mark him as a judge of such objects. The order in which they are produced is, first the poorest, then successively, poor, medium, fair, good, fine, and at last the rare and wonderful prizes.

In visiting an Oriental dignitary, his jewel-treasures are not all shown at once, as at an American reception or an Indian durbar, or even as a collector or connoisseur among us exhibits his cabinet, arranged for choice display. The method is far different. The visitor may be shown a few objects in the first day or hour; perhaps a few more later in the day; some on the next day or the one following, and so on; and he may remain a guest for weeks, and never see all, or the finest of the jewels belonging to his host. When they are produced, moreover, they are not in iron caskets or in gold or silver jewel-cases, covered or lined with fine leather or with silk or satin. On the contrary, they are often in old ginger jars, shabby boxes, tin cans, and all sorts of unsightly or unpromising receptacles, which, when placed between the owner and his guest, may well cause the latter to wonder. Nor is his surprise lessened as the wrappings are unfolded, one after another, perhaps a dozen old cloths, until the piece of jewelry or the splendid pearl is at last brought to view, after having been hidden from sight in its manifold wrappings for months or perhaps for years.

But this method of keeping such treasures is not in reality so strange as it appears. There are none of the provisions that we have for the responsible safe-guarding of investments or valuable objects,—no fire-proof safes, no banks, no deposit-vaults. Security is best attained by concealment in unattractive and improbable receptacles, and by dividing and distributing the treasured objects. The owner, too, must learn to know his visitor quite well before he exhibits to him all, or the best, that he possesses. Hence the oriental method, though so peculiar to us, has been the best adapted to the conditions among those peoples.

As an illustration of the interest taken by Oriental potentates in the collection of jewels, we quote an instance from Marco Polo, who, centuries ago, wrote the following:^[406] “Several times every year the King of Maabar sends his proclamation through the realm that if any one who possesses a pearl or stone of great value will bring it to him, he will pay for it twice as much as it cost. Everybody is glad to do this, and thus the King gets all into his own hands, giving every man his price.”

Great quantities of pearls, the result of centuries of accumulation, and exceeding in splendor the collections of the present day, must have been garnered up in many cities of the Orient during the period of their prosperity. But these cities have disappeared, wrecked and ruined by fire and sword, and no vestige of their former wealth remains with them. Their treasures have been looted, hoarded, buried, or scattered to the four ends of the Orient, frequently finding their way in former times to Europe, but now more often to America, where fine gems always find a generous buyer.

In Syria, and some of the Oriental countries, until recently, and perhaps at the present time, it has been the custom, when a native wished to embark in the pearl business, for him to allow himself to drift gradually into a state of vagrancy, becoming a veritable tramp for fully a year. Then, with the money that he had himself or that which was supplied by his backer, he would visit the pearl fisheries and shrewdly acquire the gems to the best advantage, returning again as a vagrant; for if it were known at any point along the route that he carried with him sums of money his life would be in jeopardy, and he would probably never reach the fisheries; or, if he did, the chances are that he would never return. This may remind us of Marco Polo’s old coat, in which he had concealed some valuable gems, the gift of the Grand Khan. His wife heedlessly gave the coat to a beggar and it was only regained by a clever stratagem.

The product of the pearl fisheries, either that of entire fisheries where they are managed by a company, or the gatherings of merchants, or even the single gems which may be acquired by the smaller merchants, all these usually find their way to the great markets, although occasionally they change hands at once. In the East they are sent either to Bombay, Calcutta, Madras or Colombo; frequently they are intended for a higher market. Many of them remain in the East, for in the East to-day a fine pearl is as much prized as ever, and there are those who love pearls as much as did the King of Maabar in the time of Marco Polo. However, the world over, there is a feeling that if things are sent to the greatest market there will be an opportunity for disposing of them at the greatest price. Therefore, the larger number of parcels of exceptionally fine pearls are sent to the London market, a few of them going to Paris, the cable, often within a few days after their arrival, informing the sender of the acceptance or rejection of a parcel, or of a new offer which is often accepted. In this market they are acquired by the dealers, who frequently exhibit many times before the lot is purchased.

Pearls from a fishery are in many cases of mixed quality; that is to say, they are of different sizes and varying grades of perfection as regards skin, color, and orient. These parcels are often sold directly on offers to dealers, but generally they are sold by brokers who show the various parcels to the dealers, each of the latter in turn making his offer on that portion of the parcel which is of most value to him. Thus a single dealer may want one pearl, a dozen, or even twenty or more, to complete a great necklace, or else to add to, or improve the necklace, by better graduation or by increasing the evenness of the color. When the broker receives enough offers to give him the desired price for the entire parcel, the sale is consummated, and each one who has made an offer and who has sealed his particular parcel until his offer is accepted or rejected, receives his portion. Pearls do not grow in the form of necklaces, although they are frequently seen in this form only, and to create a large necklace means not only the use of the pearls of one fishery alone, but it often requires a selection from pearls of various sizes, the product of many fisheries.

It is needless to say that even the shrewdest dealers do not always succeed in their purchases of lots which are to be broken up when the proper number of bids are obtained.

When the pearl revival came in 1898 there was a sudden and rapid upward tendency in the prices, because at that time, in England, money could be borrowed upon a very low rate of interest—as low as 3 per cent.,—and it was a temptation to a number of young men to enter as dealers into the pearl trade. The result was that a number of new stocks were created, not for a regular, but for a speculative demand, and this tended to advance the price spasmodically, rather than gradually, as it would have risen by regular consumption. However, when the foreign market became higher, the demand for pearls was not as great as had been anticipated, and there was a sudden adjustment of prices and a readjustment of the pearl stocks, resulting in the elimination of a certain number of speculative dealers; and, notwithstanding the state of the fisheries, pearls have not advanced so rapidly in the past two years as they did from 1898 to 1905.

More than go per cent. of the pearls of commerce, whether they are round, perfect, half- or seed-pearls, are of oriental origin; that is, pearls from the true pearl-oyster. About 8 per cent. are probably from the fresh-water mussels, three fourths of which are from the United States.

American fresh-water pearls have had many prejudices to overcome, often because of the natural indifference in regard to anything that is found at home or is easily obtainable. It has been said that, in comparison with foreign pearls, they had less specific gravity; that they were not so hard, and that their luster was not as good. It is certain, however, that the skin is generally smooth, and although they may not have so peculiar an orient, their brilliancy equals that of any known pearls. Sometimes they are translucent and either pink or of a faintly bluish tint, like molten silver. More frequently their hue is white, rose, pale yellow, or pale copper, deepening to copper red until they resemble the most intense and highly polished copper button.

According to the estimates of the value of European fresh-water pearls given by seventeenth and eighteenth century writers, their worth was considered to be one half that of oriental pearls of approximately the same quality. Few European pearls, we feel sure, were ever found that possessed the wonderful beauty and brilliancy of the pearls found either in the Miami or the Mississippi and its many tributaries.

So great a quantity of the poorer quality of pearls have been found, principally in the Mississippi Valley, that a foreign dealer has bought 30,000 ounces of baroque pearls at $1 an ounce, and of the slightly better grades fully 100,000 dollars’ worth were obtained in the year 1906. The exportation was strictly limited to the poorer qualities. When pearls are worth from $1 to $6 a grain and upward, they are rarely sent abroad, as the regular pearls of this quality are much appreciated by Americans, and find a ready sale in the United States. The poor pearls above mentioned were principally sent to New York, either from the local fishermen, or else through the dealers in sweet-water shells, in lots of a fraction of an ounce, or in bags weighing a number of pounds. Thirty thousand ounces would equal 18,180,000 grains.

After all the fine pearls have been selected—buttons, baroques, turtle-backs, haystacks, wings, petals and other pearls that can be used in any way as a jewel on this side of the water—the balance of the material is sold by the ounce, varying in price from $1 to $5. These are shipped to Germany, France, and Austria, where they are again selected for cheaper forms of jewelry than are made in the United States. Of these pearls the baroques and slugs go mainly to Germany, while the somewhat finer ones are sent to France, where they are used in artistic but inexpensive work, such as flowers and other imitative forms, and in art nouveau jewelry. Some, again, are shipped to Algiers, Morocco, and Egypt, for the decoration of saddles, garments, etc., and quantities go to India to be used for medicinal purposes. In this way all the material is utilized and even the poorest is not wasted. No better proof can be required of the wide-spread appreciation of the pearl among all the races of mankind.

So extensive has become the finding of American pearls that great quantities have been gathered together of all varieties. At the time of this writing there are many large single lots of these pearls, slightly irregular, and not of fine quality, but yet of sufficient regularity of size to be termed baroques. At one time such quantities were gotten together that single papers of pearls, weighing one fourth, one half, one, two or three grains each, contained more than 10,000 grains, and quantities of the wing and dog-tooth varieties weighing as much as 20,000 grains were inclosed in a single paper.

So prolific has been the yield of these common American pearls that the markets of Europe and Asia have almost been flooded with them. In 1906, a single shipment of 3500 ounces, troy (equaling over 2,100,000 grains), were sent abroad, at prices varying from $1 to $15 per ounce, according to the quality. This alone would represent a worth of $30,000 at one time.

The turtleback is a form quite prevalent among American pearls, and they are often matched in pairs slightly resembling each other and weighing from 10 to 100 or more grains for each pair. Some of them are lustrous and many are of very good color and regular in form. Although differing but little in shape, they naturally are much less expensive than a finer formed pearl, and many of them have been sold for link buttons, and more especially for earscrews. Although they formerly sold for 50 cents a grain, they are now held at from $1 to $8 per grain.

In regard to the prices of some of the finer American pearls, one of 15 grains, of wonderful brilliancy, luster, and perfection, was sold for more than $2500–$166 a grain, or a base value of over $11 a grain. Two extraordinarily well-matched button pearls, weighing a trifle over 30 grains, were held at about $3500, or $115 a grain, a base value of about $8 a grain.

At the time of this writing there are for sale in the United States a pair of button earrings, almost round, not of absolutely perfect color, weighing about 140 grains, the price being $6000; a round, slightly ovate pearl, not of the finest color, weighing 85 grains, held at $3500; and a wonderful pearl with a rich, faintly pink luster, round, but slightly button on each side, weighing about 44 grains, and beautiful as are American pearls, is held at a fanciful valuation of over $6000.

The cupidity of many of the American pearl finders and pearl dealers cannot be exceeded even by that of the foreign pearl finder in any other land, and this is shown by the variety of materials that from time to time are sold to the unsuspecting public, or that are sent to pearl dealers in the large cities. This is surprising and suggests either that the sender believes the pearl dealers are not familiar with these deceptions, or else that he himself has been imposed upon, and is innocent in his commercial deceit. Among the notable examples are, first, spheres made out of the various shells, either from a good part of the material or from hinge-material, or else from the spot where the mussel is attached, these pieces of the shell being rounded and polished; such spheres vary in color from white to pink or yellow, just as the shell itself may have been colored. Second, the pupils of fish-eyes. Third, imitation pearls. Fourth, yellow or brown translucent or transparent masses of hinge-binding material having no greater hardness than horn, and about the same appearance. The most interesting, however, are the absolutely beautiful, smooth spheres of anthracite coal, which admits of a rich polish and has a peculiar luster; these they attempt to pass off as black pearls.

It is interesting to note that in Arkansas a negro sold a very valuable pearl for a few dollars, under the persuasion of a white man, who, it is said, resold the pearl for nearly a hundred times more than what he paid for it. The local authorities investigated the matter; the case was brought to court, and the negro received a large advance on the price that had originally been paid him.

If a list were kept of the thousand and one different methods of wrapping American pearls for shipment to the larger cities, it would show how much ingenuity is displayed in environments that frequently differ very much from each other. A box that has contained the pills that relieved him of fever, ague, and other ills due to swamps and damp climates, serves a secondary purpose for the fortunate finder of a pearl in forming a receptacle in which he can ship it to the greater market. Sometimes they are sewed in leather cut from gloves and shoes, or in strips of cloth, generally of the humbler varieties, such as calico or blue jean; in other cases they are wrapped in tissue-paper and newspaper; and occasionally they are packed in boxes made by hollowing out a bit of wood, a cover being nailed over the opening. In almost every instance they have been treated with a certain degree of care.

The majority of conch pearls which are carried by individuals to New York, London, or Paris, are generally brought in small papers or bits of cloth, each pearl being wrapped separately. Usually, there are a few white ones, a few yellow, a few pale pink, occasionally a few of a very beautiful rich pink, and once in a great while a fine, large pearl appears. Many of these pearls, commonly the inferior ones, are sold in the West Indies directly to the tourists who wish to purchase something in the country through which they are traveling, with the result that better prices are generally obtained than would have been secured if the pearls had been sent to the great markets.

The tariff on pearls at present operative in the United States is so indefinite as to have led to much serious misinterpretation and misunderstanding, as well as to an endless chain of lawsuits, often resulting in serious loss to the dealer or client who imports. As a consequence of the enforced outlay of large sums for unexpected and additional duties, the importer, who was both ready and willing to pay what seemed to him a just duty, often found that, where he had quoted a price to a customer, he was a loser by the transaction; and if, to escape this loss, he endeavors to dispute the payment of the duty, he becomes involved in an expensive and occasionally unsuccessful lawsuit. On the other hand, a private buyer who has paid all that he feels he can afford at the time for a necklace, expecting to pay a duty of 10 per cent. and interpreting the law to mean a duty of 10 per cent., may be called upon to pay a duty of 60 per cent., or have the notoriety of a public lawsuit, because the pearls have been strung, or because it is held that they had recently or at some former time been assembled as a necklace. In other words, if the pearls constituting such a necklace are bought at various times from various people, either here or in Europe, and not as a necklace, the duty is held to be 10 per cent., but if they are sent in one shipment, a duty of 60 per cent. is levied. As it is held that pearls assembled in the form of a necklace have a greater value than before they were so assembled, the purchaser might naturally expect to pay the 10 per cent. duty on this higher value, but instead of this a 60 per cent. duty is demanded on the higher assembled value.

The ambiguity of this clause of the tariff is such that a logical ruling should be made by some superior official such as the Secretary of the Treasury. As the law is now interpreted, a pearl worth $20,000 can be brought in with a duty of 10 per cent.; the addition of a simple gold wire makes it a piece of jewelry, with a duty of 60 per cent. It would seem that an amendment might be made to the tariff by which an importer, whether a private buyer or dealer, could be called upon to pay a 60 per cent. duty on a high valuation of the setting of the ring, brooch, or jewel, such as $20, $25 or $50; while the contents of the ring or ornament, whether a pearl, diamond, emerald, or a collection of stones, should pay a duty of only 10 per cent. This duty would sufficiently protect the jewelry industry, and would at the same time prevent the levying of an unjust and unexpected impost upon a fine pearl or gem of any kind.

It is eminently desirable that those residing in the United States who purchase pearls in foreign countries, should, if possible, consult with the United States consul in the city where they make their purchase, in case they wish to bring the pearls into the United States. In this way a proper declaration can be made, they will be correctly instructed as to the duties upon the pearls, whether unstrung, strung, or set, and they will thus avoid all complications when they reach the United States. Of course, this may not be necessary should the firm with which they are dealing be able to attend to the matter for them.

It must not be forgotten that the duty of 25 per cent. on precious stones, which was imposed during Cleveland’s administration, was enacted for the purpose of obtaining an increased revenue for the government, and there is no doubt but that the time was one of great financial stress. Yet even with the duty two and a half times as high as in the previous years, only a small fraction was added to the income of the Government. But one adequate explanation can be given of this remarkable decrease in the recorded imports, more especially when we consider that legitimate dealers could, at that time, buy precious stones in New York City for less than it cost them to purchase them abroad and pay the duty. It seems, therefore, that a 10 per cent. rate is calculated to produce the best and most satisfactory results in every way.

As examples of the difficulties encountered in the attempt to arrive at a proper classification of pearls we cite the following cases which have been the subjects of recent litigation: In 1901, two very valuable collections of pearls were brought to this country. One of these consisted of 45 drilled pearls weighing in all 672⅛ grains and entered at $60,734; the other, of 39 pearls, having an aggregate weight of 678¾ grains and entered at $63,070. At first a duty of 20 per cent. ad valorem was imposed upon these pearls under Section 6 of the Tariff Act, treating them as “unenumerated articles partly manufactured,” according to the rule that had been followed since the enactment of the present tariff. This was protested, and the case was brought before the Board of Appraisers.^[407] Subsequent to the protest, however, the collector reliquidated the entry of the 45 pearls and imposed upon them a duty of 60 per cent. ad valorem, as pearls set or strung. This was done in view of Judge Lacombe’s decision in another notable case which had been taken shortly before to the Circuit Court of Appeals.^[408] This decision was to the effect that pearls in any form not especially covered by paragraphs 434 or 436 of the Tariff Act should be referred to one or the other of those paragraphs, by similitude, according to the provisions of Section 7 of the Act.

The testimony taken before the Board of Appraisers revealed the fact that each of the collections of pearls had been inclosed in a handsome silk-lined morocco case, with a groove running through the center; in this groove the pearls were laid, the largest one in the middle and the others disposed on either side, graduated according to their size; the row or series having the effect of a necklace, although the pearls were unstrung. The importer testified that this arrangement was only made in order to enable him to judge of the size and quality of the pearls, and evidence was given showing that it was necessary to rebore some of them and to ream out the holes before any use could be made of the pearls in jewelry. Nevertheless, the appraisers adhered to their opinion that these gems had been selected especially to form a necklace, and that the time and labor requisite for the assembling of a carefully matched and graduated series of pearls suitable for a necklace constituted the main factor in its production, since the cost of stringing it was trifling; they, therefore, considered that such a series of pearls was dutiable, by similitude, under paragraph 434 of the Tariff Act as jewelry. An application was made to the Circuit Court of the Southern District of New York for a review of the appraisers’ ruling,^[409] the judge decided against the petitioner,^[410] and an appeal was then taken from his decision. On December 12, 1904, the Circuit Court of Appeals decided that the pearls were dutiable, by similitude, at 10 per cent. ad valorem, under Section 7, paragraph 436, and the excess of duty collected was refunded.

Another case has to do with a collection of 37 pearls, entered at $220,000, brought to New York in January, 1906. Duty to the amount of $22,000 (10 per cent. ad valorem) was paid by the importer, but the entry was liquidated at 60 per cent. and $110,000 additional duty demanded. This was paid and a protest was made to the Board of General Appraisers, who decided in favor of the petitioner. The Government appealed and the case^[411] was tried in the United States Circuit Court on February 24 of this year (1908). It was shown that the pearls had been worn several times in Paris as a necklace, but the defense held that, as they were loose when imported and were not worth more collectively than separately, this was not material. The judge decided for the Government and an appeal has been taken in June, 1908.