Show DIAMOND IMPORTS IN 1920 imports of diamonds into the united states during the fiscal year 1920 were nearly double those of the previous year and more than three times the 1918 total according to figures given by the national bank of commerce in new york the value of the 1920 imports was close to the bank shows in the december issue of its magazine commerce monthly which says the united states is and has been for many years the chief consumer of diamonds and practically the entire production of the better class of stones finds its market in this coutney cout nry formerly the american demand was altogether for the cut stones but in the last two decades a diamond cutting industry of considerable importance has been established in new york city imports of uncut diamonds into the united states have greatly increased increased increase 4 since the beginning of the war in the round shapes american cut diamonds are considered superior to stones finished in europe and are in almost universal demand by the retail trade in the united states the diamond market is at present the most completely controlled of all markets the system of control having been greatly strengthened within the past two years more than 90 per cent of the worlds present supply of diamonds comes from the mines of south africa those mines after years of conflict have been united and their combined output is now marketed by the diamond syndicate of london the value of diamonds has increased almost without a break since the beginning of control following the outbreak of war the south african mines were not operated for a number of months later however a stimulated demand for diamonds appeared caused by the buying of persons in the united states to whom the war had brought prosperity and by the chaotic conditions in europe which led many people to exchange their worldly goods for diamonds a commodity easy to cone conceal eal and relatively free from depreciation during this period of buying prices for certain grades went much above those set by the diamond syndicate since 1919 although the demand for diamonds has been the largest in history production has been held down due it is commonly believed to the threatened exhaustion of some of the mines the diamond syndicate has recently antoune announced ed that in keeping with its policy in the past production will be reduced if necessary to maintain its price levels |