Digitized by the Internet Archive in 2018 with funding from Getty Research Institute https://archive.org/details/goldlegalregulatOOstud E Weller, Zith GOLD: LEGAL REGULATLONS FOR THE STANDARD OF GOLD W SLLVER WARES LN DLFFERENT COUNTRIES OF THE WORLD. TRANSLATED AND ABRIDGED FROM DIF, GESETZLICHE REGELUNG DES FEINGEHALTES VON GOLD UND-SILBER-WAAREN, VON ARTHUR VON STUDNITZ.” By MRS. BREWER. WITH NOTES AND ADDITIONS BY EDWIN W. STREETER, f.r.g.s. A uthor of “ PRECIOUS STONES AND GEMS,'’ etc. COLORED PLATES, MAP & TABLES. SEVENTH EDITION\ REVISED AND ENLARGED EIGHTH THOUSAND, London : CHAPMAN & HALL, 193, PICCADILLY. 1878. C-£A>5 HD LONDON PRINTED BY HOWLETT AND SON, 10, FRITH STREET, SOHO, W. THE GETTY CENTER LIBRARY CONTENTS. Part I. page Introduction . . . . . . 15 Part II.— The Laws of all Countries of the World con¬ cerning the Standard of Gold and Silver Wares Great Britain . . . . . . 24 British Colonies ... 33 France ....... 33 Denmark ........ 44 Turkey ....... 46 Greece . . . 46 Belgium ... .46 Holland ........ 50 Italy.51 Spain.54 Portugal.55 Austria ..... • • 55 Russia ....... 60 Switzerland. Cantons: Basle, Zurich, Soleure, Glarus, Lucerne, Pays de Vaud, Neufchatel, Geneva, remaining Cantons . . . . . . ,62 VI CONTENTS. PAO* Sweden ........ 65 Norway ......... 66 German Empire : Prussia ....... 66 Bavaria . . .... 66 Saxony . ..... 67 Hesse ...... • 67 Mecklenburgh-Strelitz . . . . . 67 Oldenburgh . . . . . . *67 Brunswick . . . . . . 67 Hamburg ....... 68 Sax Meiningen ...... 68 Anhault Dessan . . . . . .68 Bremen ....... 68 Lubeck . . . . . . . . 69 Other European Towns . . . . . . 69 America ......... 69 Part III. ........ 74 Part IV.. 79 Part V. . . . . . . . . 8r Part VI. ........ 93 Part VII. .. 1T5 Deductions . . . . . . . .120 Mr. Streeter’s summing up . . .122 Tables . . . . . . . -125 Notes ....... .129 PREFAC E. OH0ULD the precious metals, which, in a definite state of purity, form the material of a nations currency, receive any warranty or not, when tised as articles of commerce ? The arguments against any guarantee of the genuineness of precious metal ware I lay before the reader in the following translation of Herr Studnitz, which is now presented for the first time to the English public. The arguments in favour of such warranty I venture to sketch briefly in this preface. I contend that it can admit of no doubt whatever, that the governing institutions of a civilized country must be so framed as to protect the personal rights and the property of the members of the community. What¬ ever may be the amount of freedom granted to persons to trade, the liberty to do violence to the person, or to cheat, defraud, or injure the property of another, cannot PREFA CE. viii be connived at by laws which regulate the intercourse of men; and experience has shown that, the higher the civilization, the more intricate and searching are the laws which are passed to protect from fraud. It is incredible that any should be found to advocate the propriety of the sanction of the law being given to the utterance of a fraud. If the defenders of a fraud maintain that the liberty to cheat is beneficial to trade, let their statement stand alone ; but let not the sanction of the laiv be claimed for the cheat. Machiavelli did indeed instruct a rider that any devices might be practised on his people for the object of government, and he deemed this sort of fraud only a natural development of the ethics of the most approved of heathen philosophers ; but it remains for less scru¬ pulous advocates still to extend this principle to the general dealings of citizens with each other, the law itself intervening to give currency to the swindle. “ Hall-marking," established to guarantee to the public the genuineness of precious metals, was instituted on the supposition that the assay and test of precious metals was a matter too recondite to render a power of adequate discrimination for so valuable a transfer of property, a thing reasonably to be expected of the public generally. It could not be said that the transferee or purchaser, by the exercise of due caution, might suffi¬ ciently protect his own interests. It was not denied that the laws of the land might be appealed to in each case PREFACE. IX of fraud, and the courts would take all the facts into their consideration ; but the legislature was not anxious to multiply litigation needlessly , and all governments have claimed an interest in the transfer of the precious metals which are the standards of the currency. If the currency is a matter the purity of which greatly affects the stability of the country and the morality of the people, the material of the currency itself, and the name currently given to it, cannot be left to be manipulated for the sole advantage of a particular class of manufactures and trades. If gold be the name, and a particidar and specified fineness of this gold the material, then it is pretty evident that, although the currency is rather the waggon which conveys than the material itself of a nation's wealth, yet the zvaggon must not be so fragile or so untrustworthy as to render its use uncertain and dangerous. Why should the people be deprived of the security which the government deems so essential to its own protection ? While the whole of the circumstances essential to the protection of the community in the forma¬ tion of new schemes of investment are regidated by law, why should the very material itself—the very name “ gold”—which represents the value of the shares — be left to the devices of any fraudulent trader who chooses to impose on his tin scientific customer for his individual benefit , without any regard to the ultimate injury devolved on “ society ? ” X PREFACE. If however, it be deemed, advisable to carry the doctrines of “free trade" to the extent of licensing every man to outvie his neighbour in the coinage of deception, let not the sanction of the law be practically given to this deception. If brass, and iron, and plaster of Paris may be sold for gold, • at least let not the “stamping and Hall-marking" be pledged in substan¬ tiation of the fraud. If a great guild, bearing an ancient charter, vouches for the fulfilment of the con¬ ditions of this guarantee, let the gold be of a fineness to be easily ascertained by the purchaser and transferee. Coffee may not be sold as coffee when mixed with any other substance however beneficial, but must, under penalty, be called by some other name and sold as a mixture. Even so let “gold* (a name bearing a special signification ) be hedged about at least sufficiently to prevent the most annoying and injurious frauds, which are rendering the trade in precious' metal wares abroad anything but satisfactory. That certain artists in metallic work are deprived of employment because they cannot sell iron and copper, lead and brass, tin and zinc for gold, is an argument which is very gravely urged. If the zvork commends the artist, the sale is a most legitimate and laudable one; but if only the fraud commends the artist, why should the argument have weight f Fraud is not needful to bolster up free trade. By all means let every encouragement be given to art as such, but it is the PREFACE. xi death blozv of art to substitute the false for the true. If the object of legislation is to pit cunning against cunning, and drive the zveakest in this contest to the zvall, zve must as a nation profess the “ Rogues’ Creed.” If the man zvho coins a base sovereign is a criminal in the eye of the lazv, why should not the trader zvho marks his spurious gold with a stamp intended to deceive his customer for Hall-marking be also so deemed ? Gold marked by the Hall should be of a recognised value. It should be the I %-carat, or higher, if those values be now sufficiently recognised. If any tradesman desires to sell works of art which he deems to have a higher value than the material of which they are made, let him mark them with his ozvn name, state the value of the composite matter (the carat value), and trust to his genius for the sale, and not to the falsehood of a cunning imitation of the Hall mark. Let these rules be known and universally adopted, and. then the man who purchases may fairly be expected to use the needful caution to afford him adequate pro¬ tection. Trade generally would be less liable to ultimate loss from fraudulent appearances ; competition would be absolutely freed from injurious conditions ; and fine art in metal work might be expected to revive. It is well known that I have myself, at all risk to my trade, persevered in offering only the 18 -carat gold. Whatever machinery coidd do and skill coidd accom¬ plish to render my articles moderate in price and XII PREFA CE. acceptable as works of art and of ascertained value, I have done persistently. The gold thus transferred is of its marked current value, no matter how long it may have been used in the shape of articles of ornament or luxury. I have no reason to complain of the residt, but others with less stock-in-trade and less means of display have not the same chances ; and, while I admit that the repute and protection of trade generally have much influenced my crusade against “ fraudulent gold” ware, I maintain that the confidence of the public, derived from a re-assurance of the genuine character of our jewellery trade, is worth all the temporary sacrifice which this safer path is likely to entail. EDWIN W. STREETER. 18 , New Bond Street . PREFACE TO SEVENTH EDITION. y ^HE Editor deems it but right to attribute the success attending the publication of this work to the patronage it received from the Board of Trade, one of whose special functions it is to collect and publish statistics of the revenue, wealth, and commerce of the United Kingdom and its Dependencies, as well as of foreign countries ; and whose early approval of the book has much hastened the production of another carefidly revised edition, to meet the pressing and increasing demand . E. IV. S. Metals used for alloying Gold to various Standards. Scales ok Got.n Capillary Silver Scales of Platinum Translation and Abridgment of Herr von Studnitz's “Legal Regulations for the Standard of Gold and Silverwares.” PART I. INTRODUCTION. TANDARD is the term used to express the relation between the pure gold and silver in precious metal goods and coins, and the alloy with which it is mixed. The degrees of standard were formerly expressed, in the case of gold, by “ carat ” (a term originally signifying the dried seeds of the locust - bean), of which, in Germany, twenty-four were called a mark. The carat was further divided into twelve grains. Twenty- four-carat gold was gold of absolute purity. In England this manner of denoting the standard quality of gold is still in use. i6 INTRODUCTON. The standard of alloyed silver was formerly indicated everywhere by its weight ; and it still is so indicated in many countries. Sixteen-ounce silver is pure silver. The “Loth” or German half-ounce is divided into eighteen “grains." Following the example of France, it is now common to indicate the standard of silver and gold b y Toooth parts. As a rule, there are three methods of deciding the standard, the oldest being the streak test. In the goldsmiths’ regulations at Ulm, in the year 1394, we find the following : “ In testing gold, a touchstone shall be made use of, according to old custom .” This is, in fact, an old custom ; for the ancient Greeks made use of such a stone, which was called fiacrcivoQ and sometimes Lydian stone, because it was found in the River Tmolus, in Lydia. This touch-stone is a piece of slaty black jasper, and the quality of silver is judged of according to the colour of the stripe which it leaves upon the touch - stone when drawn across it. To insure a correct decision, the streak of the article which is being tested is compared with the streak made in the same manner by the touch, needles, as they are called, which are of various known standards, and of which each assayer possesses a great number. In the streak test as applied to gold, the standard INTRODUCTION. 17 is determined by the manner in which nitric acid acts upon the streak of the alloy tested. The streak test, however, serves but imperfectly for a decision of the standard. It is especially deceptive when the silver contains large quantities of zinc or nickel, because these metals used as alloy alter the colour but little. In later times gold has frequently been alloyed with zinc ; especially in America. This alloy has a very beautiful colour, but the standard is propor¬ tionately reduced to the lowest degree. Thus it happens that in melting old silver articles they are often found to contain zinc, this metal having been included in the standard of such articles. A more exact method is the fire assay. Here a small quantity of the silver to be tested (a definite weight) is mixed with lead, and is sub¬ jected to cupellation, by placing the metal in a small cupel of beech-wood ash and bone dust, or of bone dust alone, in a muffle. The inferior metal is oxidized and absorbed in a molten condition by the porous substance of the cup, while the pure silver remains behind in the form of a small flattened bead or grain. The weight of this bead, compared with the weight of alloyed metal which was originally employed in the process, shows the standard of the silver. It is important that the refining process should B i8 INTRODUCTION. be carried on with the least possible amount of heat, to prevent the too rapid vaporization of the lead. In the latter part of the reign of Charles X. of France, Gay-Lussac brought into notice a new method of assaying silver, although (as he himself modestly tells us in the preface to his work, entitled, “Complete instructions as to the process of assaying silver in the wet zuajy,” a work which was translated into German by Liebig, and published in the year 1833) Tillet had already made known, in the memoirs of the Royal Academy of Science, between the years 1761-69, that the process of cupellation gave the amount of silver in an alloy too little by some thousandth parts. Tibet’s experiments, however, were soon for¬ gotten ; or it was felt to be somewhat hazardous to attack a process upon which all trade in silver was grounded, and which was in common use almost everywhere. Moreover, the necessity of a change for the better was the less felt, inasmuch as no com¬ plaints were raised about it, and because the loss occasioned by the under estimation of the value of the silver goods passed unnoticed from the seller to the buyer. Thus it was that the practice was transmitted from one age to another, and was closely adhered to by those who were successively employed in carrying it out in the Mint, and in the Stamp and Control INTRODUCTION. 19 Offices. In the meantime, while the advances made in the art of refining proved the possibility of ex¬ tracting profit even to the xtSQo P art °f gold from silver, an increasing quantity of refined silver accu¬ mulated daily in the Mints. Now, since refining silver lost in the crucible only to the extent of x^uo or to 2 oo an ^ alloyed silver of standard lost xcfou or t^ 5 oo ^ followed, as a ne¬ cessary consequence, that a director of the Mint receiving refined silver to be coined into pieces of money of x 9 o°no standard was compelled to make the actual standard of such pieces of money x 9 o°o 3 o or t 9 cju1j that they might answer to x 9 cMro w h en tested in the laboratory of the Commissioners of the Mint. The director began, therefore, to sustain in such coinage a loss of from xrfocJ t&oo > an< ^ ^ ie cause °f this could not long remain concealed from him. In this way arose the complaints which led to a fresh inves¬ tigation of the assaying process as carried on with the cupel. The new assay, called the Titrir Method, or Wet assay, is usually preceded by a previous approximate decision of the standard by means of the streak or fire test, and is itself capable of the greatest precision. It is carried out in this manner: A definite weight of the alloyed silver is dissolved in nitric acid, and the silver in solution precipitated as chloride of silver by means of a standard solution 20 INTRODUCTION. of chloride of sodium, and the standard of the alloy is calculated by the quantity of chloride of sodium required for this purpose. Gold is converted into oxide of gold, freed from oxide of iron ; the oxide of gold is dissolved in hydro¬ chloric acid, oxalic acid is added ; and the amount of oxalic acid necessary for the precipitation of the gold determines the standard. Under the head of Gold assays is included the following,— “ In the case of silver being contained in gold, the relative amounts of the silver and the gold are decided by subjecting the gold to cupellation ; the amount of gold being ascertained simply by melting the alloyed metal in the cupel with a corresponding quantity of silver and lead, and treating the finally remaining button of silver, which contains the gold with nitric acid.” ( Millauer .) These, however, are only the most usual methods of deciding the standard. Of all others which are interesting in the same department of science, we would refer only to one,—the method of Archi¬ medes, whose exultant “ Eureka ” signified, not simply that he had found out the way to determine the standard of the crown of King Hiero, but espe¬ cially that he had enriched the world with a funda¬ mental hydrostatic law,—a discovery in the strictest sense of the word. INTRODUCTION. 2 I How far the art of working in gold and silver had been cultivated among the ancients, and how well they understood mixing the precious metals with alloy, is best seen in Livy’s “Roman History” (lib. xxxii., c. 2), where it is mentioned that the quaestors showed the silver paid by the Carthaginians as tribute to be impure, and on the application of the fire assay it was found to be deficient in value by one-fourth. Even in the time of the prophet Malachi we read (c. iii., v. 2, 3), “For he is like a refiner’s fire. * * * * He shall sit as a refiner and purifier of silver, and he shall purify * * * * and purge them as gold and silver.” Nowhere do we meet with any intimation that the State undertook the supervision of the manufacture of precious metal wares, either for the purpose of drawing financial profit therefrom, or in order to protect the purchasing public. The fact that the necessity for State control of this kind was nowhere felt has the greater claim to attention, because at that time chemical and physical know¬ ledge was by no means so widely spread as now, and because there were fewer people from whom information could be derived as to the value of objects of gold and silver. Summing up the question of standards in the Roman law, Herr Charles Roscher, in his work on 22 INTRODUCTION. the “ Legal Regulations of the Manufactures of Gold and Silver,” calls attention to the following, “ Who¬ ever bought brass for gold, lead or any other silvery-looking substance for silver; whoever bought a table plated with silver for massive silver, might, according to the Pandects, regard the purchase as void, because he had not received that for which he stipulated. Whoever, on the contrary, bought alloyed gold, which he erroneously considered to be of higher standard than it was, was compelled, if he bought the object merely as ‘ gold ,’ without any con¬ dition of a definite standard, to consider the bargain valid against himself.” This principle was held applicable even to the case of a person purchasing at a high price an old bracelet, which in all its parts was valued as gold, whereas the greater part of it subsequently proved to be copper, and only a little gold mixed with it. “ For,” says Ulpian, “it did truly contain gold.” “ This is in strict accordance,” writes Puchta, “ with the principle that the nature of a bargain does not require the just proportionateness of real value to the price paid. On the contrary, the requiring such a just proportionateness would disturb com¬ merce.” A maxim which in Roman law was expressly intended to provide that no unfair reciprocal opposi¬ tion should mar the success of trade. The development of the Guilds, having for their INTRODUCTION. 23 apparent object the protection of the public, but in reality intended to prevent competition, first led to restrictions on the working of precious metals. The oldest regulation of the kind in England of which we read, dates from the year 1238. Since that time, as will be seen in subsequent pages, the legal regulation of the standard of pre¬ cious metal wares, has, in all States, been subject to very frequent changes, and since it may be safely predicted that further changes will occur in most ot them, we judged that it would be useful to add to this work a collection, as comprehensive as possible, of all the old regulations and laws relating to the standard of gold and silver ware. We applied, therefore, to every government, not only for infor¬ mation as to the various laws and regulations at present in force, but also for brief reports of the dis¬ cussions which preceded the several legal changes effected by the various representative assemblies. PART II. The Lazvs of all Civilized Countries Concerning the Standard of Gold and Silver Ware. GREAT BRITAIN. T is more than six centuries since the first decrees concerning the legal regulation of the standard of gold and silver wares were made in England. These date from the year 1238, in the reign of Henry III. ; when, apparently in consequence of fraud, it was thought necessary to direct the gold and silversmiths that no one should manufacture gold of less value than one hundred shillings per mark, or silver of a lower standard than that of the silver coinage. The transfer to the London Goldsmiths’ Company LONDON HALL MARKS. BIRMINGHAM HALL MARKS. 5 Ct. Gold Alloy. Dwts. Gs. Fine Gold - 6 o Fine Silver - 10 o Copper- --So 24 # 9 Ct. Gold Alloy. Dwts. Gs. Fine Gold -90 Fine Silver - 8 12 Copper- - - 6 12 24 o 12 Ct. Gold Alloy. Dwts. Gs. Fine Gold - 12 o Fink Silver- 7 o Copper- - - 5 o 24 o 15 Ct. Gold Alloy. Dwts. Gs. Fine Gold - 15 o ;l Fine Silver- 5 0 Copper- - - 4 o 12 Ct. Gold Alloy. Dsots. Gs, ine Gold ine Silver 24 o 18 Ct. Gold Alloy. Dwts. Gs. Fine Gold - 18 o Fine Silver- 3 12 Copper- - - 2 12 24 o 22 Ct. Gold Alloy. Dwts. Gs. Fine Gold - 22 o Fine Silver- i 6 Copper- - - 0 18 24 o Ct. Gold Alloy. Dwts. Gs. _Gold - 15 o ine Silver- 5 o Copper- - - 4 o 24 iS Ct. Gold Alloy. Dwts. Gs. Fine Gold - 18 o Fine Silver- 312 The figures here given, represent the quantities of the various metals used in alloying gold to the above standards. GOLD. 25 of the privilege (which it possesses to the present day) of assaying wares made of the precious metals took place in the year 1300, in the reign of Edward I. This act forbade the manufacture of any gold ware of lower standard than that of Paris ; and by it the silver ware was required to be, at the lowest, of the standard of the silver coinage, and to be stamped with a leopard’s head. Before any piece of work in the precious metals left the workshop, it had to be assayed by the inspector specially appointed for the purpose. All wares in the precious metals which were not so rich as the legally fixed standard, were to be forfeited to the king ; the offenders being threatened with punishment or fine at the king’s pleasure. These regulations at first only applied to London but they were afterwards extended to the provinces. In the year 1327, the first of Edward III.’s reign, the Goldsmiths’ Company was charged to punish those who so cleverly overlaid tin with silver that their goods were taken for, and sold as, fine silver. An ordinance of the Goldsmiths’ Company in the year 1336 renewed the provisions of the law of the year 1300, and appointed that the manufacturer shall stamp his wares of precious metals. A law of 1363 confirmed the last part of this ordinance. A law passed in the year 1379 (Richard II.) adds to the stamp of the manufacturer that of the 26 GOLD. town or district in which the work shall have been stamped, and also that of the king. A law passed in 1392, in the same reign, con¬ ferred fresh authority on the Goldsmiths’ Company. In 1403 (Henry IV.) it was enacted that no copper or brass work, except church ornaments, shall be gilt or silvered, and even these must be left un¬ plated in one part, so that the metal of which they consisted might be recognised. An ordinance of the year 1405 decided a dispute between the crafts of the Goldsmiths and Cutlers, settling that the latter had the right to work in gold and silver, but that their work must be assayed by the craft of Goldsmiths. In 1414 (Henry V.) silver work was forbidden to be gilt, if it did not come up at least to the standard of the silver coinage ; while an enactment of 1420 forbade the silvering of any metal, excepting the spurs of a knight, the accoutrements of a baron or of one of a higher rank, or church ornaments. In 1423 (Henry VI.) it was repeated that no precious metal wares should be offered for sale which did not bear the stamp of the guild and of the manu¬ facturer. In 1462 (Edward IV.) the right of the London Goldsmiths’ Company was extended to the assaying of precions metal wares in Chester, Newcastle, Norwich, Exeter, Birmingham, and Sheffield. GOLD. 27 A statute passed in 1477 (Edward IV.), reciting that the law made by Henry VI. was daily evaded, fixed the standard of gold ware at 18 carats ; that of silver ware continuing, as before, uniform with that of the silver coinage. This law was renewed in 1489 and 1552. By a law passed in 1488 (Henry VII.),—in which it is declared that the refiners of gold and silver do not observe the regulations affecting the standard of precious metal wares, and that they buy gilt silver from the Mint, the Exchange, and the goldsmiths, which they mix with alloy as they please, insomuch that no pure silver is to be obtained when required, to the great damage of the king’s nobles and the Commons,—the alloying of gold and silver and the sale of all alloyed metal were restricted to the officers of the Mint and Exchange. An Act of 1504 again affirmed that the laws respecting the standard of precious metal wares were often evaded ; and in 1573 (Elizabeth) it was enjoined that gold ware should thenceforth have a standard of of least 22 carats, and silver ware a standard of 1 i^ 2 o ounces. It is interesting to note how in this enactment, as in several others, the good old times are looked back upon in which better gold and silver were manufactured ; and yet it is evident that, had this really been the case, the rulers would not have found GOLD. it necessary to make such a series of laws with regard to these objects; each one treading upon the heels of another, and all, in spite of their number, incompetent to deal satisfactorily with transgressions of the law. In 1576 (Elizabeth) the determinations of the enactment of 1573 were legally fixed. In the books of the London Goldsmiths’ Com¬ pany of the year 1597, a report is made upon the frauds and counterfeit stamps of two goldsmiths who were sentenced to be placed in the pillory at West¬ minster, with their ears nailed to it, and tickets over their heads upon which their offences were written. From Westminster they were brought to the pillory at Cheapside, where each offender had an ear cut off, after which they were conducted through Foster Lane to the Fleet Prison, In addition to all this disgrace and suffering, they had to pay a fine of ten marks. This was the usual punishment in most countries for similar offences. In Belgium, goldsmiths who manufactured precious metals of a lower standard than that allowed by law, were taken to the market-place of their town, and there nailed by the ears to a pillory, being compelled to remain in that position till they had purchased their freedom by the surrender of a portion of their ears. An order of the London Goldsmiths’ Company GOLD. 29 in the year 1695, reciting that the laws relating to the standard are often evaded, inculcates them anew. A law of the year 1697 (William III.) promises to all who shall within a given time bring manu¬ factured silver to one of the royal mints, a fixed price per ounce. This was occasioned by the alteration of the legal standard of silver ware. In the same year the standard of silver ware was raised to 11 oz. 10 dwts., and the figure of the stamp to be used by the manufacturer and by the London Goldsmiths’ Guild was settled In 1698 (William III.) the export of manu¬ factured silver was forbidden. Mr. William Chaffers* is of opinion that this measure was at that time a good and beneficial one, because it had the tendency to keep at home the metal of the coinage, to the welfare of the kingdom. This law, however, was in force only a very short time, as manufactured silver was again permitted to be exported under certain conditions. The Laws of 1700 (William III.) and of 1702 (Anne), ordered the establishment of Control Offices at York, Exeter, Chester, Norwich, and Newcastle- upon-Tyne, the assayers of the London Goldsmiths’ Guild, in consequence of the alteration of the legal standard of silver ware, being over occupied, and the necessity of sending their goods to London to be * “Hall Marks on Gold and Silver Plate.” 30 GOLD. stamped being attended with great inconvenience to the goldsmiths of these towns. A law of the year 1719 (George I.), recording that silverware manufactured according to the standard earlier in use was more durable than that manu¬ factured after the new standard, decrees that no goldsmith is compelled to work at the standard of 11 oz. 10 dwts,, but permits the use of this standard, and also of that of 11 oz. 2 dwts. The same law imposes a duty of sixpence per ounce upon imported silver and silver manufactured abroad. In 1739 (George II.) the precious metals used by jewellers were exempted from the necessity of bearing a fixed standard. Other directions were also laid down as to the stamps to be applied. This Act adverts to the prevalence of fraud. In 1756 (George II.) the import duty upon manufactured silver was lowered to sixpence upon 10 ounces. In 1758 the punishment for counterfeit stamping was increased to the term of fourteen years trans¬ portation. In 1759 (George II.) the dues to be paid by the goldsmiths to the king for their license were increased. In 1797 the duty upon gold ware was fixed at 8j. per ounce, and upon silver at is. per ounce. In 1798 (George III.) was legalised the manu¬ facture of gold ware at 18 carats. GOLD. 3i In 1803 new licensing duties were fixed for the manufacturers of precious metal ware ; and in the subsequent year the duty on gold ware was raised to 1 6s. per ounce, and that on silver ware to ij. 3 d. per ounce. In 1815 was enacted the most important of the rules now in force as to the duty upon precious metal wares; and in 1844 (Victoria) penalties for counterfeit stamping of gold and silver wares were fixed. The most recent English law upon the standard of gold and silver ware dates from the year 1854. All gold and silver ware manufactured in the United Kingdom is required to be assayed and stamped ; the cost of stamping amounting to 1 ys. per ounce for gold ware, and ij. 6 d. per ounce for silver; and the duty is payable at the place of assaying. At the present time five legal standards exist for gold ware,— 22 carat gold 18 „ IS „ 12 „ 9 „ For silver ware there are two: 11 oz. 10 dwt. and 11 oz. 2 dwts. Jf yy jj )f 3 2 GOLD. The lowering of the standard of precious metal ware met a great emergency. Although English watches have always been in great demand in the United States of America, yet, owing to the quality of the standard, they were too costly. English watches without cases were therefore exported there. The Americans enclosed the watches in cases having a standard of from ten to sixteen carats, and sold them in South America and other markets at a price with which the English could not compete. The following gold wares are exempt from the dues of stamping,— Watch cases, gold setting for precious stones, chains, rings, buttons, bells, clasps for garters, neck¬ laces, sliding pencils, needle cases, &c. Among silver ware there is an exemption of watch cases, chains, beads, bracelets, necklaces, brooches, buckles, lockets, &c., of whatever weight these may be. Many articles are also exempt which weigh less than io dwts. The penalty incurred by those who sell or export unstamped goods is £50, and, in case of inability to pay, confinement in a house of correction for periods varying from 6 months to a year. The value of goods seized belongs half to the Crown and half to the informer. For exported goods of gold and silver an export premium is granted GOLD. -» -> a a which amounts to the costs of stamping ; for gold, ijs. per oz., and for silver is. 6 d. In the British colonies no laws are in force which regulate the standard of gold and silver ware. FRANCE. The Minister of Finance in France has had the goodness to communicate to us that, in consequence of the destruction of the archives, he is not in a position to forward to us the early laws regulating the standard of gold and silver wares. We therefore avail ourselves of the information supplied in the well-known work of William Chaffers concerning the old French laws regulating the standard of gold and silver ware. In the “ Livre des Metiers,” compiled by Etienne Boileau, Provost of Paris, 1258-69, we find in the preface that “ no goldsmith may work gold in Paris which is not of the Paris touch , or better : which touch or standard surpasses all the gold which is worked in any other country ; and no silver must be worked which is not as good as, or better than the sterling silver of England.” In an ordinance of Philippe le Hardi, 1275, the silver workers were compelled to stamp their works with the sign of the town ; and in the reign of Philippe le Bel, 1313, gold was ordered to be stamped c 34 GOLD. with the punch of the Goldsmiths’ Company of Paris ; and it was further ordered that each city should have a particular mark for works in silver. The same king (Philippe le Bel) decreed that the manufacture of gold and silver should be restricted to pieces of a certain weight. This was for the double purpose of limiting the progress of luxury, and of reserving a sufficient quantity of the precious metal for coinage. Louis XI. and Louis XII. confirmed this decree ; but as the Paris goldsmiths complained bitterly of this restriction, in consequence of the prelates, princes and nobles getting their work done out of France, the king was induced to alter the law four years after, viz., in 1510. An edict of the year 1554 commanded all goldsmiths, under fine of 1000 livres and bodily punishment, each to enter with his own hand in a register the weight of every piece of precious metal or precious metal ware, as well as the name of the buyer or seller. This was somewhat modified in 1555 ; but it still exists in a milder form. In 1631 a duty of three sols per ounce was laid upon all the precious metal work. In 1633 this duty was compounded for by a sum of 24,000 livres, which the Paris goldsmiths had to pay, and 8000 livres, which the wire drawers and gold beaters had to pay. GOLD. 35 In 1672 the duty was re-established; and in 1674 it was still further increased. In 1681 works of silver gilt were subjected to a like duty with silver. In this same year a fine of 3000 livres, besides the punishment of the galleys and the amende honorable , was inflicted for fixing the stamp of a high standard on false metal. But for the same offence in the year 1724 the sentence was “ d’etre pendus et etrangles.” Although Louis XIV. had stood pre-eminent in his use, nay, in the extravagant display, of precious metal ware, yet when a time of great scarcity arrived, he sent about 10,000,000 francs worth to the mint for the purpose of raising money, and made it compulsory that the nobility should do the like. In March, 1700, the previous edicts of Louis XIV. against the luxury of precious metal wares were made more stringent. Under penalty of 3000 livres, and confiscation, no gold article was to weigh more than an ounce, and no silver ware more than eight marks. No one dared ornament their dress with gold or silver lace, nor were they allowed to use gold and silver to ornament carriage harness, liveries, or furniture of any kind. The result of these strict laws was that great quantities of gold and silver ware were imported ; whilst the weight of the article to be manufactured was limited in 1721 to seven GOLD. 36 ounces. At the same time the standard of small gold ware was fixed at 20J carats. A law of 1746 decreed that the inner part of real gold lace should be of silk, and that of the false gold lace of red cotton, so that the two kinds of lace might be easily distinguished. In 1763 a universal method of assaying was prescribed. In 1765 a decree was made that silver boxes lined with gold should be stamped with the word silver. In 1769 it was required that all imported gold and silver ware should be assayed and stamped in the “ Maison Commune.” A law of 1782 instituted the use of a new punch. In 1783 the standard of silver ware was fixed at 11 oz. 12 grains, and of gold ware at 2 o\ carats. A law of 15th December, in the same year gave to each of the Communes in France a separate stamp. Concerning the legal regulations of the standard of gold and silver ware now in force in France, we have received the following information from Mons. de Parieu, who accompanies his communication with the remark, “ That the manufacture and trade of gold and silver ware in France are placed under very strict regulations, which appear no longer in GOLD. 37 harmony with social progress and the principles of political science.” These regulations or restrictions are found in the laws of 19 Brumaire (November), 1797, and contain the following standards,— 920 840 1000 ••• 1000 7 50 lOOO for gold 950 800 1000 ••• 1000 for silver The law of the 19 Brumaire, which is in force to the present day, declares in Article 5.—That the allowance of deviation in gold is limited to TU 3 M , and in silver to Article 8.—All precious metal ware shall receive three distinct stamps ; that of the manufacturer, that of the standard, and that of the Control Bureau ; and, beyond these, stamps for imported and plated ware. Article 21.—That the stamp duty per hecto¬ gramme for gold ware be twenty francs, and for silver ware one franc ; to which is added the cost of assaying. Article 23.—Precious metal ware imported from foreign lands must be shown to the Custom House officers on the borders, who forward them to the next Control Bureau, where they are dealt with as the home produce. Exceptions to this rule are articles belonging to ambassadors, and which serve 33 GOLD. for the use of travellers ; but in the latter case the weight must not exceed five hectogrammes. Article 25.—For French gold and silver ware exported an export duty must be paid amounting to two-thirds of the stamp duty. Article 47.—Every officer, under pain of dis¬ missal, is forbidden to give any description, either by word or in writing, of the precious metal articles in the Bureau. Article 62.—The duty for assaying the standard of gold ware is three francs each article, and for silver ware eighty rappes (a rappe is one-seventh of a penny) each article. Article 64.—For assaying small gold ware with the touch-stone, nine rappes per decagramme. Article 65.—If the assay officer suspects that the precious metal ware contains within it copper, iron, or other matter, he may, in the presence of the owner, cut it. In case of his suspicion being con¬ firmed, the owner is fined twenty times the value of the article, which is also confiscated, and he is given over to justice. If, on the other hand, he is wronged by the supposition, the injury to the article is made good. Article 72.—The precious metal manufacturer is bound to deposit his stamp with the proper authorities. Article 74.—The precious metal manufacturers GOLD. 39 and tradesmen are bound to inform one of the officers in charge of the register of the weight, the number, the standard, and the kind of goods bought or sold. Article 75.—Manufacturers and tradesmen are only allowed to purchase gold and silver of such people as are known to them, or for whom they will be responsible. Article 78.—The same are bound to hang up in their sale rooms the laws connected with the sale and standard of precious metal ware. Article 79.—The trader in gold and silver ware must provide the buyer with the date, and the place of his purchase, the quality of standard, and weight of the article, and also whether it be new or old. Regular forms are obtainable at the Regie de l’Enregistrement. Article 80.—Anyone transgressing these articles, commencing with Art. 72, will for the first offence be fined 200 francs; for the second, 300 francs ; and for the third, 1000 francs, and will be de¬ prived of the privilege of carrying on business any longer. Article 81.—Whosoever shall sell precious metal ware with a false statement of standard renders himself liable to a fine of 200 francs for the first offence, 400 for the second, and 1000 for the third, and is disqualified for the conduct of trade. 40 GOLD. Article 86.—The manufacturer or trader in jewels, of precious stones or pearls set in gold and silver, is not bound to give such articles to the Control Bureau ; but he is bound to keep a register in which all matters connected with each article purchased or sold are to be entered. Article 87.—As in the case of manufacturers and sellers of precious metal ware, so these are compelled to hand to the buyer a filled-up form concerning the purchased article. Article 92.-—The seller of knives, &c., made of precious metal are bound to inform the proper authorities, of what workers in gold the articles have been purchased. Article 95.—The manufacturer of plated precious metal ware is bound to give notice of it to the proper authorities and to the Mint. Article 109.—Articles bearing a false stamp will be confiscated. Those who knowingly possess or sell articles with false stamps will be fined for the first offence 200 francs ; for the second, 400 francs ; and for the third, 1000 francs, and will be debarred from further trade. The law contained in Article 74 was made still more strict by a decree of the year 1821. The great variety of stamps to which in the course of time, French precious metals had been subjected, caused much perplexity to the public. GOLD. 4i To remedy this evil an ingenious method was de¬ vised, viz., to provide all precious metal ware with a new stamp, the recense. This was to be a stamp of verification of all the works of gold and silver then existing, and, as a rule, to be free of cost. In 1836 for the stamp of the standard, and of the Assay Office, there was substituted one single stamp, to bear a particular sign for each office (in 1838). At the same time the poincon de remarqne was instituted—a stamp to be placed at every four inches on gold chains, or other precious metal ware of that character. They are now marked every deci¬ metre (a law of 1838.) It is very certain that these strict laws have failed in the object they had in view, viz., the sup¬ pression of deceit, as was lately acknowledged in the Assembly ; nor has the precious metal industry been improved by them. In the interior of France one scarcely knows how sensibly the interests of the industries and of the public are injured by the above restrictions, because the French public have never enjoyed the advantage of buying cheap precious metal ware, and the French manufacturers have never experienced how much the demand for their manufactures would increase if the law allowed them to manufacture at a low standard and price, and trust to the increase 42 GOLD. of trade for their profits. In other lands this is otherwise. The French gold workers see what a tremendous part the German and Geneva manufactures play in the world ; they must daily remark how their wares are the source of great gain to strangers, while they themselves cannot partake of it. It is true that French metal wares are bought by foreigners, but only to a very small extent, and often solely for the purpose of serving as models. The Paris commis¬ sioner selects the newest and most elegant article, buys a small number, and sends them either to Germany or Switzerland, where they are imitated by the hundred in a lower degree of standard. If the French manufacturer tries to bring his own ware to the world’s market, he has to battle with the creation of his own taste and his own genius without ever being victorious, because the laws of his own land forbid the manufacture of cheap ware. The French industry will not always be content with this. “ La France reclame vigoureusement la libertd du titre pour faire une guerre industrielle a l’AHemagne,” wrote a much respected gold worker in March, 1873. Indeed, M. Tirard brought forward in the National Assembly a proposal to allow the gold workers of France to work gold and silver ware destined for export according to what standard they please. The manufacturer, however, was to be GOLD 43 compelled to stamphis name and thedegree of standard on each of his finished works. For non-compliance with this requisition he has to be subject to a money fine, and to have his goods confiscated. The debate which ensued on the introduction of this motion gives us an interesting insight into the condition of the French gold worker. It shows that the stamp duty which burdened this industry had lately increased fifty per cent., the gain to the Treasury thereby being 6,000,000 francs. The chief centres of precious metal ware industry are Paris, Besangon, Lyons, and Marseilles. Lyons pays yearly 100,000 francs stamp duty, and works principally for home consumption. At the same time it exports large quantities of goods which do not come under state control, such as are stitched or woven in with gold and silver. It is quite evident that in France the chief object of State control of the precious metal industries is not to protect the public, but to enrich the treasury. Besancon pays from 800,000 to 1,000,000 francs stamp duty, mostly upon watches ; which shows us to what an extent this industry has grown here. Many more hands could be employed, if it were not that they are compelled, in consequence of the restrictions of the French laws, to send so large a number of their unfinished watches (most of them 44 GOLD. for re-exportation) to Geneva, where the gold may be of lower standard than is allowed in France. M. Tirard, who brought forward this motion, called attention to the fact that a law consisting of no less than 140 Articles, was still in force, imposing restrictions on the precious metal ware industries, and was no less unfavourable to them now than eighty years ago ; and that, owing to these laws, the English, Swiss, Dutch, and Germans exported French wares to the exclusion of the French themselves. Abroad, he said, there are but few French traders in the precious metal wares. The French are not a trading nation ; and those who engage in trade, deal not in French precious metal ware, but in German, and that to the value of 30,000,000 francs annually. M. Tirard related that he himself tried in New York, and also in Mexico, to find French wares, hoping that where French troops had been, French taste would have spread ; but he everywhere came across German manufactures. The eloquent defender of the forementioned motion, which would have been so advantageous to the precious metal industries of France, was unable to carry it. It was rejected. DENMARK. We learn upon good authority (that of the Danish Finance Minister, through the Royal Mint GOLD. 45 and State Warden, Mr. S. Gross) that on the 7th of November, 1685, the king ordained that no silver should be worked of less standard than 13^ loth (£ oz.), allowance of deviation £ loth ; and that all the ware should, according to law, be marked with the stamp of the manufacturer, and then taken to the warden, who, if he found it correct, should stamp it with the Copenhagen arms (three towers) and his own initials. Silver ware of higher standard was required to be marked with the higher standard stamp ; and by a rescript of 15th June, 1770, a fine of from one to fifty thalers was imposed in respect of such ware as, upon completion, should fail two, three, or four grains in its standard. A circular of 16th June, 1792, made this still more stringent; silver workers in the provinces being informed that, under pain of punish¬ ment, they were themselves to stamp the standard on each piece of their finished work. As it happened in many other lands, the old laws had either lost their virtue or died out in Denmark. Gold ware, according to royal decision of 7th November, 1685, was to be either of 23 or 21 carats, and to be stamped with the letter D (ducat gold), or C (crown gold). A royal rescript of 26th August, 1778, authorised the working of gold ware of 20 and 18 carats; and one of February 7th, 1781, exempted small gold ware from stamping, and made the degree of standard 46 GOLD for all gold ware optional, provided the goldsmith stamped each article with his name and the number of carats, for the accuracy of which he was answerable. Precious metal ingots were to be stamped with either the standard or the city arms, and the initials of the warden. TURKE Y. In Turkey there is no law by which the standard of gold ware is regulated. Most of the gold ware here is 22 carat, or Previous to the year 1844, silver ware was required to have a minimum standard of > an d since that time of t 9 q 0 ^. Silver ware is stamped in the royal mint with the city stamp. GREECE. No law is in force to regulate the standard of precious metal ware. The manufacturer, however, according to a police regulation, must deposit his name and stamp, engraven in copper, at the mayoralty, and enter the bought or sold precious metal ware in the police book of reference. BELGIUM. After the precious metal industry had been for a short time free from all legal encroachments of the GOLD. 47 State, through the effects of the battle of Fleury it came under the power and regulations of the French Republic, and so became subject to the strict law of the 19 Brumaire; which was somewhat altered as to Belgium by a decree of 14th September, 1814 of which Article 4 declares that thenceforward gold ware shall have as standards,— I. 9161 IOOO = 22 carats 2. 8334 IOOO = 20 „ 3 - 750 IOOO = 18 „ and silver ware,— 1. 1 9 3 4« IOOO = 11 oz. 5 grains 2. 8334 1000 = 10 oz. The cost of assaying silver ware of the first standard which is over 120 grammes, was one rappe for thirty grammes ; and for spoons forks, &c., of the same standard, and weighing less than 120 grammes, five rappes ; for testing buttons or other articles which are sold by the dozen, the weight of which does not exceed 120 grammes, the cost is ten rappes a dozen. The legal regulations affecting the precious metal industry occasioned much complaint, for they compelled the Belgian goldsmiths to work a higher standard than was imported into Belguim from other countries. Imported silver ware from Germany possessed a standard of ; that from France T 8 D Q 0 %. 4 8 GOLD. If we take the value of silver coins of (i kilogramme silver = 200 francs) as a basis of calculation, we find that a Belgian silver vessel weighing 1 kilogramme, and of standard, is worth 185,18 francs ; a German silver vessel of like weight, and standard of is worth 180,55 francs; and a French silver vessel of like weight, and is worth 1 77,77 francs. Accordingly, the German silver vessel was 4.63 francs, and the French 7.41 francs cheaper than the Belgian, and sold at that rate in Belgium itself. The Belgian precious metal industry could not prosper. The export trade between 1858 and 1863 furnished a yearly average of 66,000 francs for gold ware, and of 65,000 francs for silver ware ; while the total of the imports, however, reached the value of 162,000 francs for gold ware, and of 258,000 francs for silver ware. In fact, the local industry is far from being able to supply the needs of the in¬ habitants. In 1862 there were in Belgium 255,180 gold articles stamped, which were either of home or of foreign make, and weighed 702 kilogrammes 828 grammes. Nearly all these had a standard of Taking the gold of this standard at 2583 francs a kilogramme, the average value of each article would be 7 francs 11 cents. In the same year there were 329,466 silver articles stamped, which together weighed 6040 kilogrammes, 540 grammes GOLD. 49 Supposing these to have been of the legal Belgian standard, viz., 1 8 g 3 ^ ( j , the average value of each article at 185,18 francs per kilogramme would be 3,40 francs. Of 8657 silver articles, 6531 were worth on an average twenty rappes each. This shows that precious metal articles of a low price are largely sought for. The Belgian Finance Minister, on the 19th of November, 1867, brought in a bill (accepted by both Houses with some few modifications) of which— Article 1 declares that the manufacture of pre¬ cious metal ware is permitted at all standards, and compulsory State control ceases. Article 2 enables buyers and sellers alike to have the precious metal ware tested as to standard and stamp at the testing office ; the standards for gold ware being fixed at and T 7 C ^ and for silver ware at and Article 3 directs that ware of a standard between the two shall receive the stamp of the lower. Article 4 authorises the buyer of precious metal ware to demand a statement of the weight, standard, price, and other particulars of his purchase, which the seller is thereupon bound to supply. This bill came into operation on the 1st July, 1869. A clause therein sets forth that the Royal stamp, with the letters O (or) and A (argent), and the figure 1 or 2 for standard, shall be impressed D 50 GOLD. on each article. For legal confirmation of the standard (2) shall be placed on hollow articles, of such character that it can be seen at once that no foreign matter is inserted therein. The cost of assaying gold ware is fixed at ten francs per hecto¬ gramme, and half a franc for silver ware ; gold ware under one gramme being taxed as one gramme, and silver under ten grammes as for ten grammes. The Belgian Finance Minister urged the accept¬ ance of these laws, on the ground that they would free the precious metal industry in Belgium from burdensome restrictions, and showed that the prin¬ ciples implied therein had been productive of the happiest results in Holland and Germany. HOLLAND. The law of September 18th, 1852, determined the working of precious metal in each standard. The guaranteed regulations of the degree of the standards are as follows,— Gold Ware. Silver Ware. I- I. 1W0 2 - » 2. iWo 3- Tcfo°o 4- t 5 o 8 & Precious metal ware of other standards bears a stamp in token of the payment of the duty required GOLD. 5i by the State. Moreover, every manufacturer is com¬ pelled to place his own stamp on all completed articles. Gold ware is subject to a duty of twelve florins per hectogramme; and silver ware of sixty cents per hectogramme. ITALY. In the kingdom of Italy, with the exception of Tuscany, the law is that the minimum standard of silver ware shall be x 8 o°o% and of gold ware Before the formation of the kingdom of Italy there were different laws and different standards for every State. In Naples the standards were,— Gold Ware. Silver Ware. 91-6-3 Tooo 91 5i IOOO 833 IOOO 847s lOOt) 750 IOOO 6663 IOOO 5 8 31 10 O 0 500 IOOO In the States of the Church,— Gold Ware. 9163 loot) 75 0 10(5t) Silver Ware. 93 7 IOOO _8 75 1 O 00 52 GOLD. In Sardinia,— Gold Ware. Silver Ware. 840 950 10OO IOOO 7 50 800 Tooo 1000 In Tuscany,— Gold Ware. Silver Ware. 833* 987 TOOO IOOO 625 7 91? 1000 Tooo 6 8 7* 1000 In Parma,— Gold Ware. Silver Ware. 8 3 34 1000 917 1000 7 50 792 100O Tooo It is evident that the legal restrictions in Italy have operated neither to the advantage of the in¬ dustry nor to the benefit of the public. In May, 1873, a law came into operation which contains the following clauses :— Article 1.—Working of gold and silver is per¬ mitted in all standards. Article 2.—When desired, the following standards may be confirmed by stamp in the office for assaying gold and silver. Gold Ware. T 900_ IOOO -7 7 50_ TOOO 2 5 00 J- 1000 Silver Ware. 950 TO <50 900 1 ( 507 ) 8 0Q_ TOOO GOLD. 53 Article 3.—Precious metals of a standard between two standards are to receive the stamp due to the lower of the two. Only ware of homogeneous character will be stamped. Article 5. — Royal assay offices shall be established where the industries require it, on condition of the cost of their maintenance in excess of the duties received being guaranteed. Article 6.—False stamping punishable by law. Article 7.—If a precious metal ware is fraudu¬ lently filled with foreign material, the manufacturer to be imprisoned for one year. A decree of December, 1872, contains the following :— Article 2.—There are six standard stamps, three for gold ware and three for silver ware. For gold first stamp is a Jupiter’s head ; the second, a Minerva profile ; and the third, a horse’s head. While for silver, the three stamps are signified by an Italian turret, with the distinguishing numbers 1, 2, 3. Article 9.—Articles brought to the office for stamping must either be finished or require only to be polished. Article 11.—In case of discontent or dispute as to the real standard of a precious metal ware, it may be assayed a second time; and, if this be disputed, it must be sent to the central assay office, 54 GOLD. Article 13.—An alloy of j^oo allowed for gold and silver ware. Article 14.—The duty for assaying gold ware is 50 francs per kilogramme, and for silver ware 5 francs per kilogramme. Article 15. — For precious metal ware not answering to any standard nor requiring any stamp, the duty for a simple assay is 40 francs for gold, and 4 francs for silver, per kilogramme. The duty is in no case less than 20 rappes. Article 20.—All duties are devoted to the good of the State. Article 27.—The assay officers are bound to complete the assaying on the same day the precious metal ware is delivered to them. Article 30. — The assay officers must stamp the article on the principal part, and not on a subordinate part. If the article consists of several parts which can be separated, it must be stamped on each part. SPAIN. The standards for gold ware are 9JL6| T'O OO -> 833 2 - T 00 O And for silver :— , 7 5 0_ j' TOoo T 916j • 10 O 0 lb A. Th _75 O 1003 GOLD. 55 PORTUGAL. The standard for gold ware is xb 4 o Q o> and f° r silver ware T ^f^. For bijouterie a lower standard is allowed. AUSTRIA. The legal regulations of the standard of precious metal ware differed until recently in different parts of the empire. With relation to this question the crown lands were separated into three distinct groups, viz., 1st. German-Slavonian lands (Slavonia). 2nd. The Lombardo-Venetian kingdom. 3rd. The Hungarian kingdom, with Dalmatia, Cracow, and the military frontier. The differences were as follows :— The third group had no laws or restrictions for the standards of gold and silver ware. In the Lombardo-Venetian kingdom, according to the Napoloenic law of 1810, all gold and silver ware (without exception) was subject to control ; while in the German-Slavonian territory, according to a law of 1824, gold ware of less weight than 4 ducats was not subject to stamping. The following standards were observed in the Lombardo-Venetian division :— 56 GOLD. Gold ware: 22 carats, 21 carats, 20 carats, and 18 carats. Silver : 15 and 12 “ Loth ” oz.). In the German-Slavonian territory (Slavonia) : Gold ware : 7 carats 10 grains, 13 carats 1 grain, 18 carats 5 grains. Silver ware : 15 and 13 “ Loth ” (}4 oz.) The necessity for uniformity of regulations was so evident that in 1835 an attempt was made towards the attainment of this object, and a circular was issued, explaining the state of the standards ; but without any practical results. The discrepancies between the different groups were so great, and led to such embarrassing results that the necessity for legislative enactment was acknowledged by the State, and gave rise to a scheme of provisional regulations for stamping the standards of gold and silverware in 1852. But this also fared the same fate as other endeavours ; it never became law. The first real step towards improvement was caused by the conference of delegates from the Zoll Verein, who, in 1856, devoted ten sittings to the question of “ Uniformity in the Control of the Standards of Gold and Silver Wares.” Before proceeding to give the laws now in force, it is worth mention that in Austria at the present time, and under the altered condition of the empire, GOLD. 57 Vienna is the only great centre of the gold and silver ware industry. There are manufactures in Presburg, but they are governed by laws of their own, derived from an earlier period, and exempting them from control and duty. Law now in force. The law now in force was passed on 26th May, 1866. The following are its most important provisions. The standards of home-manufactured or imported gold and silverware are subject to the official control. Officers of Control are appointed by the Finance Minister. A duty to be imposed for the expense of Control. Standards of gold and silver to be expressed in “ thousandths ”—youo- For convenience of the Control Office, gold and silver ware is divided into bars , wares (including trinkets, jewellery, chains), wire and objects manu¬ factured from the wire. All finished gold and silver wares of home manufacture to have the name of the manufacturer stamped on them, and to be deposited in the Control Office for the purpose of assaying their standards. Bars to receive the stamp of the Control Office, and the standard to be expressed in figures. Duty for gold bars, 1 gulden per lb. weight ; and 58 GOLD. for silver, half a gulden for like weight. Above 5 lb weight, half the sum per lb. Imported bars, having the stamp of a foreign official authority, will not be subject to duty or control. Gold and silver ware not permitted to be manu¬ factured of a lower standard than that expressed in No 20. All new ware to be subject to the Control Officers for assay and stamping. All goods must have the name of the manu¬ facturer stamped on them ; and, if not quite finished when taken to the Control Office, must be so nearly so as to exclude the possibility of tampering with the articles after they have been stamped. Standards for home-manufactured gold and silver ware :— Gold Ware. Standard Carats. Grains. I. 920 IOOO = 22 0-96 2 . 840 1000 = 20 I '92 750 _ IS O’ a- 1000 4 - 5 80 IOOO = 13 I 1 '04 Silver Ware. Standard Ounces. Grains. I. 950 IOOO = 15 3'6 2 . 900 Tooo = 14 r 2 3- 800 Tooo = 12 x 4'4 4 - 7 50 lOUO = 12 O’ GOLD. 59 Gold-plated silver articles will be stamped as silver. Such articles are not to be regarded as articles of gold or silver ware, as are made of other metals and merely gilded, silvered, or plated, or only so alloyed with gold or silver, that the precious metal is not more than one-fourth of the whole weight. Gold and silver wares having their parts bound together by solder, must possess an equally high standard throughout, agreeing with that stamped on it by the authorities. The material used for soldering the parts of gold and silver ware must itself possess half of the same precious metal. As alloy for gold, only silver or copper may be used; and for silver, only copper. All other metals are forbidden. The standard of gold and silver ware to be determined by means of the streak test. In case, however, of a greater accuracy being required, that in the Royal Patent of Sept. 19th, 1857, may be used. Should the articles assayed prove to be below the lowest standard, they are to be broken up and given back. All workmen in gold and silver ware are bound to give notice to the Control Office when entering on new work, and to communicate any further change. Gold and silver manufacturers or dealers, on 6o GOLD. retiring from business or making any change, must give notice within eight days of the same, and deliver up their stamps to the office. The stamp for bar-gold is a royal eagle, and the name of the office where stamped. The standard stamps for large ware are mytho¬ logical figures. For gold, the head of Phoebus Apollo, with the sun’s rays ; and for silver ware, the head of Diana, with the Crescent. In Austria, as in many other lands, there will be no rest or satisfaction until the restraints of the precious metal industry be altogether removed. RUSSIA. To insure the real worth of gold and silver circulating in trade, whether in bars or as wares, it must have the legal sign or stamp. Assay Officers are not allowed to carry on any trade connected with the office in which they are employed ; nor, either in their own name or in that of any other, to trade in gold and silver ; nor to have any dealings with master manufacturers, jewellers, or gold and silversmiths. Standards for gold ware :— _r> 6_ 7 2 100 10(J for bars, the same and T 9 0 6 0 . _ 8_2 10O _9JL_ 10 $ GOLD. 61 Gold used for soldering is required to be not lower than §§ ; silver for the same purpose must not be below §f. Standards for silver and for gold plated :— 84 88 91 Tots Ttsts Too As alloy for gold, only red copper or silver may be used ; and for silver, only red copper. Russian coins, native gold, gold sand, and un¬ stamped bars are not allowed to be melted together. Gold and silver wares must be produced for assaying and stamping before they are finished or before they are polished. Trade in gold and silver ware of every kind, and bars, may be conducted in open magazines and shops, either exclusively or in conjunction with other articles. But it is strictly forbidden to sell them in little huts, or on stalls in the market-place. All who desire to work in the gold trade, in whatever branch it may be, must obtain permission ; and this permission must be renewed in the December of every year. No gold and silver worker can change his place of occupation without notice and permission. Traders in gold and silver wares are bound to keep special books for daily entries, as is the custom of other traders. Jewellers and manufacturers must also keep books if they sell their goods in open magazine. 62 GOLD. SWITZERLAND , Canton Basle City. — r. All gold and silver manu¬ facturers must be most accurate in ascertaining and providing that the standard of gold ware is 18 carats, and for silver 12 oz. 9 grs. 2. All finished articles must have the name of the goldsmith stamped on them. 3. Every master whose name is stamped on the article is answerable for its standard, whether it was made here or in other lands. There is not a large industry of gold and silver ware in Basle, most of the ware being imported from Paris and Geneva. Canton Zurich. —Standard for gold, 18 carats, and for silver, 13 oz. 6 deniers. There are three manufactories for gold and silver ware in this Canton, viz., at Zurich, Winterthur, and Elgg. Concerning Foreign Dealers. —All gold and silver wares which are sold at the fairs or yearly markets for good gold and silver by foreign dealers, to be assayed most strictly by the properly appointed authorities. Should the standard prove lower than that allowed in this Canton for imported wares, the sale of them should be interdicted, and the dealers commanded to depart from the Canton and to take GOLD. 63 away the patent, or they render themselves liable to punishment. Canton Soleure .—No real laws existing. Canton Glarus .— No new law has been enacted since 1761, when the standard was fixed for silver at 12 oz. ; but nothing said of gold. Lucerne, 1804.— 1. Neither gold nor silver manu¬ facturer may sell ware under 18-carat standard for gold, and 13 oz. for silver. 5. Gold and silver ware sent out without the name of the manufacturer and the arms of the Canton, will be confiscated to the State, and a fine of sixteen francs imposed upon the manufacturer. Wardens are appointed to inspect the several workshops and the yearly markets, and to report to the President of the Canton. Pays de Vaud .—Up to 1848 there was no law regulating the standard of gold and silver ware ; but in December of that year it was decreed— 1. Ail precious metal ware manufactured or sold in the Pays de Vaud must have the correct standard. 4. For gold ware, T 7 ^ 0 %. 5. For silver fo°o°o and t 8 o°o°o- 6. It is expressly forbidden to sell ware in the Canton or out of it of lower standard than Article 5 expresses. 12. Every article must be stamped with the 64 GOLD. name of the manufacturer and the degree of the standard. 14. The Chamber of Commerce is appointed to watch over the standard of the precious metals in the Pays de Vaud. 15. Every gold or silversmith must deposit his stamp at the Chamber of Commerce ; and this Chamber must see that every manufacturer has a different stamp. 16. Should the manufacturer die, or his business be given up, his stamp is broken up at the Chamber of Commerce. 24. Strange merchants buying precious metal ware at the market of this Canton must give notice to the Chamber of Commerce, in order that the ware may be assayed. 25. When the assay officers are about to inspect the ware, they have to take an oath before a Com¬ missioner of the Chamber of Commerce. In November, 1873, permission was granted for the manufacture of precious metal ware at any standard the manufacturer may be pleased to adopt. In 1874 gold ware was required to have ^$5 standard ; and silver, If a wrong stamp be placed on the ware, a fine is inflicted of from 30 to 500 francs, or imprisonment from 10 to 180 days. Canton Neufchatel. — The oldest laws in this GOLD. 65 Canton concerning the precious metal industry date from September, 1754. Manufacturers are forbidden to make gold ware under 18 carats, and silver ware under 13 ounces. Of confiscated goods, a third goes to the King of Prussia, a third to the officers, and a third to the informer who discovered the fraud. A Regulation of May, 1846, lowers the stamp duty, but declares that all imported ware must be taken to the stamp bureau to be stamped. Canton Geneva .—The principal industry is watch¬ making and bijouterie. Manufacturing here is permitted at all standards ; but the gold ware must not be lower than y^ 5 o%, nor the silver lower than xo°o%. In the year 1872 the amount of gold alone worked in Geneva was estimated at six millions of francs. The remaining Cantons have no laws relating to gold and silver ware. 5 WE DEN. In Sweden there are three standards for gold ware, viz., ducat gold, pistole gold, and crown gold ; or 23-carat 5 gr., 20-carat 4 gr., and 18-carat 4 gr. All except very small goods, must be stamped. E 66 GOLD No one dare offer for public sale gold and silver ware unstamped. This applies to every article that is not too small to receive the impression. NOR IVA V. No gold ware can be sold that has not a standard of from 18 to 14 carats, at the lowest ; and all must be stamped by the manufacturer, and bear the standard stamp. GERMAN EMPIRE PRUSSIA. No restrictive laws in force. BA VARIA. Minimum standard of gold silver 5 80 ToWO’ 800 iooo- The chief mint and stamp office are entrusted with the official verification of the standard. The police are bound from time to time, especially at the yearly fairs and markets, to inspect officially the stalls or booths of precious metal ware. GOLD. 67 SAXONY. No new laws ; and the old ones not enforced. HESSE. Since 1829 all gold and silversmiths are com¬ pelled to have their ware stamped with the standard, the initials of the manufacturer, and the arms of the duchy. MECKLENB UR GH- S TRELITZ. No new laws since 1572 ; and those not enforced. OLDENBURGH. A law of 1760 declares that the standard for silver is to be 12 oz.; and that, together with the name of the manufacturer, must be stamped on it. BRUNSWICK. Name and standard to be marked on goods on pain of a fine of twenty thalers or imprisonment. 68 GOLD. SAX-MENINGEN. A law of 1666 ordered that no goldsmith should work silver of a lower standard than 12 oz., and that his signature must be placed on the finished work. A notice of 4th of July, 1848, recalls this to remem¬ brance, and forbids under pain of severe punishment the marking of a false standard. AN HA UL T-DESSA U. The marking of a false standard is punished by confiscation and a fine of five thalers. HAMBURG. No silver can have a less standard than 11 oz. 12 grs. All ware of a higher standard to be stamped with the maker’s name and the standard. There is no law in Hamburg for gold ware. BREMEN. Never had any restrictive laws for precious metal trade. . GOLD, 69 L UBECK. Previous to 1872 no silver ware could be made in this town under a standard of 12 oz. to the mark. Since that period, however, permission has been given to manufacture of any standard. All goods to be stamped at the cost of the manufacturer. In other lands and towns of Europe no restrictive laws exist. AMERICA. There are no special statutes concerning the standard of articles made from the precious metals, either in the United States or in the States of South America. The subject of a common legislative regulation of the standard of gold and silver ware in Germany, has already been repeatedly adverted to. The transactions most fresh in our remembrance, how¬ ever, are those of the year 1856, which we have mentioned above, and which were intended to lead to a regulation of the standard of gold and silver ware 70 GOLD. in association with Austria, and upon the principle proposed by that State. Notwithstanding this, no common legislation resulted ; but on the 21st June, 1869, a trade order was issued, which put an end to the existence of the guild by which the limitations of the standard of gold and silver had hitherto been defined. How¬ ever, in certain towns in Germany (Berlin, for ex¬ ample) assay officers are appointed and sworn by the Goldsmiths’ Corporation; nor is the influence of the guild by any means extinguished, since in Berlin (where silver only is stamped, and that simply in a facultative manner) an officer, appointed by the guild, marks the standard only upon such articles as are at least of 12 oz. quality. These remnants of old rights, the exercise of which is slowly continued like an ineradicable disease, still give character to the laws on the precious metal trade in such towns as from the nature of their industry stand prominently forward in this department. Silver ware of 11 oz. standard weight is therefore chiefly manufactured in Schleswig, Holstein, Bosen, and Silesia; of 12 oz. in the northern and eastern parts of Germany; and of 13 oz. standard in the southern and western parts. In the meantime the competition as to price, and the abuses resulting from loose laws of protection, which are evaded or transgressed with impunity, GOLD 7 i have lowered the standards of silver by admitting an excess of alloy, which, if not corrected, will render the name of ‘German Silver’ synonymous abroad with base and spurious metal.” These are the words of a petition of October 4th, 1872, addressed by 154 silver manufacturers of North and South Germany to the Confederation and Diet, to which undoubtedly belongs the credit of having called attention afresh to the common regu¬ lation of the standard of gold and silver ware in the German Empire. There, however, the credit of the petition ends, for it seeks to lay restrictions upon the silver trade which are in open opposition to the principles of free trade. The proposed law, subjoined to this petition, runs as follows,— 1. From the 1st January, 1874, silver articles may not be manufactured in the German Empire, or imported from abroad, which have a lower standard than that of the weight of 800 in 1000 parts. Every other deviation from purity of metal, except that hitherto appointed for the Mint, is prohibited. 2. The standard is to be indicated by a stamp, viz., an imperial crown with an eagle or similar device, and the number 800 placed against it. This stamp to be manufactured in Berlin, and to be issued by the local authorities on the expenses being defrayed by the manufacturer or seller of silverwares. 72 GOLD. All silver articles to be impressed with the stamp Should these have a standard in excess of 800, it is to be expressed in decimals beside the imperial stamp. 3. Silver ware of lower standard, in hand at the time of the introduction of this law, may be sold out but not to be furnished with the imperial stamp. 4. Every seller of silver ware is to be obliged to place his trade-mark beside the imperial stamp, and undertakes in so doing to guarantee to the buyer the right standard. If the seller be not himself the manufacturer, he can make the latter responsible should an investigation prove a defective standard. The last buyer, however, has the right to claim against the person who sold to him. If a seller will not undertake this responsibility, he may not stamp his own trade-mark ; but in that event he must indicate that of the working silversmith or manu¬ facturer, so that the buyer may always enjoy a personal security in addition to that implied in the imperial stamp. 5. In doubtful cases assayers appointed by the German Mints are commissioned to investigate the silver goods submitted to them, in conformity with the process pursued in the coinage. Should the investigation disclose an inferior standard, the seller or the manufacturer (as the case may be) must pay the penalty imposed by law. GOLD. 73 The fact of so large a number as 154 men in the trade expressing themselves in favour of this law may induce others to favour it also. We are not unaware that in all national reforms, the ad¬ vantages of which were patent from the first, it has always been those most concerned who have been slowest to perceive them. An imposing number of silver manufacturers send up a petition, ostensibly for reform ; but it really proves to be nothing better than a generalization of already existing restraints ; or an advocacy of laws to limit the freedom of manufacture. But that this restriction is adverse to the manufacture may be illustrated by the success which has attended the repeal of the laws on gold and silver in the case of Geneva and other states; the benefit extending beyond the special sphere of the trade to the wider compass of the whole community. PART III. Has the statesman to deal with the gold trade and with the silver trade in the same manner , or in a different manner ? HE before-mentioned petition was signed by silver manufacturers alone. Why do not the manufacturers of gold demand the same measures ? The petitioners themselves give the reason for declining to do so. Although they would most willingly (says the petition) have laid before the Confederation a scheme for legislation upon gold ware also, they were not able to obtain proposals for the same from the principal manu¬ facturers of gold ware in Pforzheim, Stuttgart, and GOLD. 75 Hanover, because the legal treatment of this branch of trade presents much greater difficulties. The small size of the objects seem to render it impossible that they should bear a distinct stamp ; in the case of the greater part of gold wares, the value of the pure metal is of much less significance, in pro¬ portion to the price of the article, than in the case of silverware ; and the value of the metal is in very many jewels, small in comparison with that of the stones or pearls set in them. Lastly, a very important export trade in cheap gold articles has arisen in Germany, which would be injured if in Germany itself obstacles were thrown in the way of sale by legal enactments as to standards. These grounds of opposition only prove that the disadvantages bound up with legal restrictions upon the commerce in precious metals are more apparent with regard to gold than to silver ware. No sound reason, however, exists to require that the trade in silver ware should be dealt with differently from the trade in gold manufactures. It is true that, generally speaking, it is easier to place a stamp upon silver ware than upon gold ware ; yet there are many silver articles, such as rings, chains, and filagree work, which either cannot be stamped at all, or only with great difficulty. Further, the small value of the metal in many gold articles can be no reason for passing over the great number in which the value of ?6 GOLD. the metal is very considerable ; and thirdly, as to the injury which the export trade in gold ware would suffer through a government regulation of the standard, this applies equally to the case of silver ware. “ The trade of Pforzheim,” writes the Chamber of Commerce in that town, “ owes its existence and its present extent to its deliverance from every im¬ pediment in the form of decrees as to the standard of the manufactured gold. It is by this means that it is in a position to manufacture for all parts of the world, and to adapt itself to the requirements of trade.” If it be true then, that the ready sale of all ware depends principally upon the skill with which the manufacturer suits the tastes of the purchasers, can any reason be found why the freedom so ad¬ vantageous to the German gold manufacture should be considered injurious to the trade in silver ware so closely connected with it. We have heard of yet another ground for sup¬ porting a separate legislative treatment of the trades in gold and silver ware. The Swabian Chamber of Trade and Commerce affirms, according to the “ Alte Algemeine Zeitung ” of the 9th of March, 1875, in the decision submitted to the Bavarian govern¬ ment upon the legal regulation of the standard of gold and silver ware, that important authorities had pointed out that in many uses to which silver is GOLD. // applied, particularly in utensils for food, a lower standard than that of acts in a manner injurious to health. So long, however, as these “ important authorities ” remain unknown, we may be allowed to doubt their assertion, as regards the utensils for food. And what other silver utensils could by any possibility act in a manner injurious to health ? The only injurious substance which might be formed in the use of spoons containing copper, is verdigris. The formation of verdigris from an acid and pure copper is, however, a very slow process ; so that food must have been immersed for days in an acid fermentation, and a spoon for a still longer time, before the formation of verdigris could take place. Verdigris might be formed rather more quickly from the contact of silver articles with very acid food ; but even in this case an injurious effect would result only from very great want of cleanliness, and from the utensil in question being allowed to remain unwashed for a considerable time. Even when we have taken these exceptional conditions into account, still it does not appear why the exact standard of should form the boundary at which all danger of poisoning disappears ; and even were this the boundary, it would by no means follow that it would be beneficial to prescribe for all silver goods (for instance, watch cases) such a minimum standard. In this case, which we by no means consider as 7§ GOLD. proved, it would be necessary that police directions should be published on the subject; but no reason exists why legislation should deal with the whole silver trade otherwise than it does with the gold trade. Besides, it is but seldom that one of the trades in precious metal has been exempted, while the burdensome attentions of the statesman and the tax- gatherer have been at the same time bestowed upon the other. PART IV. i Has experience been favourable to legal regulations as to exact standards of precious metal ware , or the contrary ? their fruits ye shall know them.” If we glance over an epitome of the laws which in the states of Europe treat of precious metal trade, and if we consider that in almost every country one law has been superseded by another because each has been insufficient to attain its object, and how this again has been supplemented by a second, third, fourth, and so on continually, we shall feel inclined at once to pronounce in favour of freedom in this department of national economy. We know that in the Canton of Neufchatel, during a period of 119 years (from 1754 to 1873), 8 o GOLD. thirteen laws were framed ; in France, during a period of 332 years (1506 to 1838)^ forty-three laws were framed ; and in England, during a period of 616 years (from 1238 to 1854), fifty-six laws were framed, which altered more or less the standard of precious metals. We see, therefore, that it was found neces¬ sary to alter the laws relating to the standard of precious metal ware during the periods just mentioned, in Neufchatel every nine years, in France every seven years, and in England every eleven years. This is only the number of which information has come down to us. Were the whole number known to us, the failure of legislation upon this subject would be far more plainly manifested. Experience, therefore, has pronounced throughout in this manner against the interference of the State. But we are far from holding by the false prin¬ ciple that “ to experiment is better than to study.” Let us rather endeavour by deductive reasoning to obtain the truth. PART V. Can the legal regulations of the standard of precious metal ware be justified by deductive reasoning ? 0 motives have existed to induce legis¬ lators to subject the precious metal trade to legal restrictions. Either the Exchequer felt that no more fitting object of taxation could be found than the ornaments of the rich ; or economists have demanded that the State should here exercise its power: oftener, indeed, both motives have ruled at the same time, as in France for example, until now. Thanks to the financial position of the German Empire, however, we have to deal only with the second motive. The first question is: Are there any valid F 82 GOLD. grounds for demanding different legal regulations for the trade in precious metal ware from those applied to all other trades, which—with slight ex¬ ceptions—have the right of manufacturing goods of any quality ? Among the exceptions here adverted to, the Government control of chemists’ shops stands fore¬ most. Next comes the legal testing of fire-arms which has been introduced in Belgium and in other countries also. It should be further mentioned that in Great Britain the anchors and anchor-chains of every British ship must be tested at a legally au¬ thorised place. Attention should be turned to the fact that in these exceptions it is the life or health of the purchaser which comes under consideration, whereas in the precious metals trade it is his interest only that is concerned. Though there certainly are other instances of State interference in behalf of the well-being or the interest of the purchaser, it must not be overlooked that to every such exercise of State control objections may be raised, and indeed have been raised, which are entitled to consideration. Thus the necessity for the control of weights and measures might seem to one (without pronouncing judgment upon the matter) to be diminished by the fact of the gradual adoption of a more scientific system of cookery, which obliges heads of house¬ holds to provide themselves with scales and measures GOLD. 83 with which they are quite able to maintain a check upon tradesmen. The control of weights and measures, of fire¬ arms, anchor chains, apothecaries’ goods, and other articles of trade, is a remnant of times gone by, in which the manufacture of a far greater number of goods than at present was subjected to the super¬ vision of the State. Thus in the thread and linen patents granted to Bohemia, Moravia, and Silesia, in the years 1724, 1750, and 1755, minute directions were given as to the quality of these products, even their length and breadth being specified ; and the paper regulation of 1754 determined the weight of each description of paper, and particularised its length and breadth. The decrees relating to weaving were of a similar character ; and those as to the quality of silk goods, light cloth, and velvet manufactures, issued in the middle of the last century, were conceived in the same spirit. If, however, the removal of legal restrictions may be rightly called the chief characteristic of national progress; if the most important laws of modern times in the civilized states of Europe have originated nothing, but have rather renewed old decrees, how cogent must be the reasons which could induce the legislators of to-day to impose new restrictions. In any case, few will be willing to 8 4 GOLD. adopt the principle that the rule shall be formed upon the failure of legal restrictions upon trade, and the justification mainly indicated by exceptional cases. The question of the legal regulation of the trade in precious metals will therefore have to be judged by the rule; and those who approve of Government restrictions will have to sift to the bottom their reasons for the exceptional ground on which they rely. What are these reasons ? Let us take the bull by the horns. The chief consideration alleged in behalf of the legal regulation of the standard of gold and silver wares, and which underlies most of the attempts made to justify this usurpation of power by the State on the ground of prudence, is the circumstance that gold and silver are also applied to the coinage of money. The horns of the bull with which we have here to contend vanish like an empty phantom when one reflects that this circumstance is a purely accidental one, and that this accident does not furnish the smallest justification for the legal regulation of the standard of precious metal ware. It is true that it might have appeared convenient to the legislators of centuries gone by, in which the alloying of precious metals was not so well understood as to-day, to provide by law that the precious metal utensils of GOLD . 85 the country should have the same standard as the coins, so that the trouble might be avoided of altering the standard of the utensils when melted down before they could be employed for the coinage of money. But to-day, when the art of refining and alloying has made such great progress, if we adopt this argument of our forefathers as our own , a repre¬ sentation is advanced as to the part played by pre¬ cious metals in our national economy which we do not hesitate to designate as doubtful and misleading to an astonishing degree. And yet this justification of the legal regulation of the standard of precious metal ware, recurs in almost every case in which such a regulation is recommended. Indeed, to speak quite plainly, the chief reason (in our opinion) why so little energy has been manifested on behalf of freeing the trade in precious metal ware from legal restrictions, and of upholding its freedom, is because the State stamps the sign of its authority upon gold and silver coins ; a circumstance which seems to con¬ fuse the judgment. Because it happens that neither precious stones nor any other materials are made use of as money, the multitude cries, Let gold and silver be considered sacred ! Let them bear, in what¬ ever form they may appear, the mark of the State ! Very well ; now we shall see that the stamp of the State upon precious metal ware may prove to be a mark of Cain. 86 GOLD. With no more leniency than we show to the supporters of this much valued argument for the legal regulation of the standard of precious metal ware, shall we judge those who base their defence of its regulation by the State upon the necessity of maintaining its character as a measure of value. It is very easy to see that one could not possess in gold rings or plate an absolute measure of value if the manufacture of such articles, in all standards, rvere permitted. It would be necessary, therefore, to fall back on the position which but few States have ventured to take up, viz., that only one standard should be authorised. It is very evident, and the experience of other States has also proved, that legal restrictions leads to the most serious disadvantages. It lays the greatest possible difficulties in the way of the require¬ ments of trade and the gratification of the public. It hinders the export of the produce of native industry, and any attempt to enforce its regulations must lead to measures for watching over the cus¬ toms ; for the transgression of a legal restriction attended by so many evil consequences may be regarded as a matter of course. Apart from all these evil consequences, however, it is to be observed that the necessity of insisting upon relief from the legal restriction of the standard of precious metal ware to one degree still exists. GOLD. 87 In earlier times gold and silver ware often sup¬ plied the place of the means of exchange, which were then scarce. In this way the English country nobleman, who had no money for his parliamentary journey to London, gave his plate to the nearest goldsmith, who, in return, provided him with a letter of credit to a London goldsmith—at that time a London banker. Now, however, in no civilised country is there any lack of means of exchange. Where, then, lies the necessity of multiplying the materials of exchange. But the public will be protected ! Gold and silver it is argued, are amongst the most costly of wares, and here or nowhere should the State protect us from fraud. Let the State, then, do its duty. The costliness of gold and silver is an argument for the proposed demand which will not hold good. For why should the public be found to require protection in the purchase of ware precisely of the value of gold and silver ? Why not in the purchase of wares which, at the same weight, are of higher value ? for instance, in the purchase of diamonds ? Why not, also, in the purchase of ware, the value of which, at like weight, lies between the value of gold and silver ; as, for instance, in the purchase of lace ? Or, again, why not in the purchase of ware, the value of which, at the same weight, lies bclozv the value of silver. 88 GOLD. It has been further stated that the public should especially receive protection from the State in the purchase of precious metal wares, because the public is not sufficiently competent to guard itself in this matter against the salesman. If this principle holds good, to what a multitude of wares would it apply ! For example, how great is the difference between real and imitation champagne ; between genuine and imitation lace; between good and bad cloth ; between good and bad clocks ; between real stones and paste ; between real pearls and glass imitations ; between good spectacles and bad, &c. How difficult it is for the layman at times to exercise a correct judgment upon these wares, and yet it never occurs to us to call in the aid of the State in making a purchase of any one of them. Do we depend, then, upon the honour of the seller ? By no means ; but upon the recognition the latter has of his own ad¬ vantage, which will prevent him from placing in jeopardy the custom, not only of one person, but of all. There is, therefore, not the smallest ground for calling in State aid, in making our purchases of gold and silver. With regard to the defence of legal regulation of precious metal ware, in the form of compulsion to use alloys of the upper and middle standards, that the people s wealth is thereby increased because it makes impossible the manufacturing precious metal wares of GOLD. S 9 very lozu standard, zvhose worth is lost with tJie destruc¬ tion of the form of the article; even this ground for the proposal under consideration does not hold good, in our opinion. It implies that the small quantities of gold and silver which escape by friction in the mechanical working of these metals are lost; but this is not true, except as to infinitesimally small particles. For buyers of old gold and silver at the highest price are always to be met with ; and anyone having a remnant of a chain or other trinket, of however low a standard, can always sell it. This is owing to the fact that the art of refining has advanced at a great rate, insomuch that one nowadays is able to extract minute specks of gold and silver even out of the most heterogeneous matter. Gold¬ smiths are accustomed to sweep their workshops out from time to time, and to send the sweepings to the so-called refiners, that the gold and silver dust may be extracted by them. In the next place, the widest possible extension of the use of precious metal ware, which is paralyzed by legal restrictions but encouraged by freedom, is to be regarded as advantageous to the wealth of the people ; because we must remember, that the trade in gold and silver ware represents one of the most suitable investments of superfluous capital. In the purchase of precious metal ware, a satisfactory result is ensured to both of those aims which it is usual 9 o GOLD. to keep in view in the investment of capital, viz. security and proportionate interest. The best security at all events, of the investment of a limited capital is, as in this instance, the possession of one’s own property ; while the interest is fully represented in the beautifying of existence which we owe to gold and silver ornaments and gold and silver plate. Since the public takes so much pleasure in precious metal ware, such an outlay of capital obtains the importance of a very alluring investment for spare cash. The use of precious metal ware, so loudly decried, positively serves to augment the savings of a nation. Orientals, therefore, and all other nations who are not able to invest their capital with security, have done well to decide upon investing it in precious stones and gold and silver ornaments. “And yet,” as Count von Moltke, with much insight into national economy, remarks, “ such nations indicate by the very abundance of their ornaments how small is their wealth as nations.” However, they have made a virtue of necessity. As a further argument in support of the fact, that the use of precious metal ware is conducive to the wealth of a nation, we may add, that in pro¬ portion to the hold obtained by precious metal ware, will the sale of ornamental goods made of the inferior metals and low qualities of gold diminish. GOLD. 9i The working power is therefore preserved to the nation, which would otherwise be wasted in the manufacture of trifles. It is to be further noted that ornaments made of precious metals are generally preserved with greater care than the perishable, worthless goods, known under the name of “ Quincaillerie,” and also that fashion is far less capricious in jewellery than in these less important articles. Whoever possesses a golden ornament, if of the standard 18-carat gold, knows the ornament to be worth its value £3 3 s. 8^d. per oz. He is inde¬ pendent of the mutations of fashions. Few people are in a position, or even have the wish, to be guided by the fashions of the gold and silver manufactures. On the contrary, in many families, old fashioned silver is used in preference. If Government regulation of the standard of gold and silver is defensible neither on the ground that gold and silver are also made use of as money, nor because silver plate formerly answered as a measure of value, nor because the public either claim protection on account of the high value of precious metal goods, or have a difficulty in deciding the standards, nor finally, because advantage might accrue to the wealth of the nation, then, on the whole, it is not required at all. For no other arguments have been produced in favour of legal 92 GOLD. regulation in this department ; and we claim to have proved that no reason exists for deviating in this particular of gold and silver ware from the rule , which is the non-interference of the State with the trade. If we ask the reader to follow us still further, it is because we are convinced that the public, in the formation of its views, is not decisively influenced by the evidence of non-justification. Let us, therefore, return to experiment, and assume that neither the inductive proof which we sought to establish in Section 4, nor yet the deductive method argued in this section, has overthrown the principle of legal regulation of the standard of gold and silver ware; and let us ask :— PART VI. What methods have been applied or proposed in order to render possible the legal regulation of the standard of gold and silver wares ; and what actual or con¬ jectural resirtts docs the application of these methods yield ? HOSE Government rules which lay upon the manufacturers of gold and silver wares a compulsory degree of one or more stan¬ dards are called, in the Austrian reports, Imperative prevaitive Control; and, for the practical working of this control Government offices are erected for the purpose of assaying the manufactured gold and silver wares, and providing them with the Govern¬ ment stamp. This is the system employed in Austria. 94 GOLD. The authorities at the Imperial Stamping Office in Vienna have had the goodness to supply us with a statistical report of the precious metal ware which had passed through the office in Austria from 1867 to 1873. This report shows that the entire weight of stamped precious metal ware increased from 1867 to 1872, but decreased in 1873. The entire weight in lbs. troy of gold and silver stamped during these several years is as follows,— 1867 1868 1869 1870 1871 1872 1873 Gold Ware. 3143-6715 57x8'oo2o 6915-4038 6868-5030 8566-5005 io 353‘8i7° 10223-9881 Silver Ware. 339°4'4 12 56516-526 60480-822 58709-914 70992-130 91783-805 87067-221 The director, in sending these figures, remarks, “ It is to be concluded, from the dates contained in this statement, that the present stamp law of the Imperative-preventive Control, and the principle on which it is grounded, have had a very serviceable influence upon the development of the gold and silver trade, and upon the credit of the Austrian gold and silver ware.” Upon this we must observe that, to all appear¬ ance, the figures embrace the foreign as well as the GOLD. 95 home-stamped precious metal ware, and that there¬ fore no conclusion can be drawn from them as to influence of the system upon the precious metal trade of A us triad Supposing even that in these figures the precious metal ware coming from abroad was not included, still the increase of the entire weight of precious metal ware stamped in Austria under the control * On inquiring again at the Imperial Chief Stamping Office, we learnt that in the above numbers the preeious metal ware coming from abroad is included. The amount in pounds weight of those imported from abroad and stamped in Austria is as follows,— Gold Ware. Silver Ware. 1867 ... 783755 6 2893-683 1868 ... i69I'oii8 9 I 39' I 93 1869 ... 1989-8474 io 5 8o ’975 0 00 1880-0835 96 75 *° 1 7 00 2531-4575 11974-675 1872 ... 3045-0834 15482085 00 00 ... 29 8 5 - c ' 73 8 16600-028 According to these tables the entire weight of the stamped gold plate of home manufacture multiplied itself in these years by 3, and silver plate by 2‘/ 5 ; while, on the other hand, the imported gold plate by fj s , and the silver plate by 5 7 /, ,. These facts throw a. keen ray of light upon the Austrian precious metal trade under the present favourite legislation of standards, and serve as anything rather than a proof of the beneficial influence of the latter. 96 GOLD. system has to be considered side by side with the rise or increase of the same trade in other lands, where the control system is different. And that the import of foreign ware must and does play a con¬ siderable part in Austria is proved by the following notice of a member of the Chamber of Commerce, in the year 1871. The Secretary of the Chamber of Commerce, who has sent it to us, tells us that the views contained in it may still be relied upon. The stamp law, which came into operation on the 1st of January, 1867, from which the tradesmen of Vienna fully anticipated a permanent rise of busi¬ ness, has not fulfilled their expectations ; but rather produced all the disadvantages which were pre¬ dicted by us at the time in repeatedly delivered opinions. Foreign competition, the suppression of which was the real motive of the Viennese petitioners in demanding the official stamping, while the protection of the public from fraud was the ostensible pretext, is more active than before ; and the import increases visibly, because the trade of Pforzheim, Gmunden, Hanau, very soon accommodated itself to the Austrian stamping directions. Besides, as was easy to foresee, the importer of manufactured goods has a considerable advantage over the home producer, when one remembers the vexatious determinations of the law : which can be GOLD. 97 or rather must be carried out in the case of the home productions, but which cannot be closely observed in the finished goods. The importer, again, risks nothing in the attempt to introduce goods contrary to prescription, except the return of the same, while the home producer has all goods of insufficient standard destroyed ; by which operation he becomes a loser to the extent of the cost of their manufacture. Home trade is further confined to the large towns principally; generally to Vienna and Prague, where the law is carried out in well-organized offices by officials trained to the business. But in the smaller towns, where gold and silver workers are installed as chief assayers (of whom, to say the least, we may assert that they are not trained to the work), much ware is allowed to pass out in favour of the importer which does not comply with the law, and with which the home manufacturer cannot compete. This, however, is not the place to consider this point more closely, nor would the removal of the disad¬ vantages be practicable even if we could ; for the Government cannot establish well-arranged stamping offices in all such places without keeping upon their paid staff a large number of insufficiently occupied officials, and so largely increasing the burdens. In the Hungarian countries, also, the law appears not to be of advantage to the native industry, for it G 9 8 GOLD. is practically impossible to compete in Hungary with the wares of Pforzheim, where it is difficult to meet with ware answering to the legal prescriptions, even among that legally imported. These are telling facts, the causes of which are not difficult to discover. The first of the numerous difficulties which can be raised against the compulsory control of the State consists in the question whether the charges in¬ separable from the enactment of such regulations bear any proportion to the advantages, if any such were possible, that the public receive against fraud. These charges are in many countries very large. None are so small as in Lucerne, where each of the two assayers receives yearly the sum of four francs. In Austria, in 1867, the testing fees were 76,049 florins; and in 1871 they were 168,758 florins. But far more heavily than the figures of cost do the pro¬ hibitive regulations weigh, which are inseparably connected with the imperative preventive control of the standard. These regulations find expression in two different ways. First, there is the fact that compulsory pre¬ ventive control can only promise a good result if at the same time precautions are taken that no precious metal wares be imported, which have a lower standard than that fixed for home manufacture. Otherwise home industry would be prejudiced in the highest degree. Consequently, compulsory preventive control GOLD. 99 by the State must inevitably be followed by pro¬ tective regulations directed against foreign com¬ petition in the interest of home industry ; and thence arises the disadvantage that the public will be able, neither at home nor abroad, to provide itself with precious metal ware to its liking. Secondly, compulsory preventive control has had the disadvantage in many countries—France, for example—of compelling the framers of the law to define certain degrees of standard for precious metal ware destined for exportation. How can this be done ? If of the same standards as for home, the good repute of the precious metal ware abroad is lost ; and, if this be their sole object, the unfairness to those at home is evident. But however this may be, it is clearly perceptible that legal regulations which confine an industry so closely in chains lead to the most obnoxious results. If the framers of the law prescribe certain standards for precious metal ware destined for abroad, then the precious metal industry is forced into deceptive courses which must lead, in the natural order of things, to deviation from these regulations. As, however, the interests of one industry cannot be disconnected from those of the whole com¬ munity, it follows that, if the precious metal industry descend to deceptive and crooked ways, the whole collective industries of the country suffer with it, and are equally degraded. 100 GOLD. As a further disadvantage connected with com¬ pulsory preventive control, we must cite the fact that manufacturers of precious metal ware could not escape burdensome oppression from the application of control of this kind. Least of all will those manufacturers escape who do not live in the great centres of this industry. As it is impossible to have control establishments in all places, they must either send their ware to the nearest control office, often with serious loss of time and money, not to mention the great risk, or else seek a dwelling in the neigh¬ bourhood of a control office. Quite apart from the sacrifices which must result to individual manu¬ facturers, the framers of the law give rise to a grouping of industries of this nature—a grouping which cannot be for the interests of the country. This aspect of the question, however, is of much less importance in the case of the precious metal industry than in that of other crafts, since the head-quarters of the goldsmiths’ art have always been confined to the seats of riches and luxury, and therefore to very few places. It would be a disadvantage of the most serious kind to compel the goldsmiths of small towns, to shift their quarters to the departmental capitals, or to give up their occupation, since for many of them there would be no alternative. Again, the buyer of a gold or silver article, if he live in a small town GOLD. IOI without a control station, will have to give a larger sum for it than if he bought it in one of the larger towns, because the expense of the transit of the article backward and forward to the office has to be made good to the manufacturer; and therefore the buyer will prefer to make his selection in the capital, where he will have a greater choice and less expense. In spite of the fact that those gold and silver¬ smiths who live in the centre of their craft enjoy the possible advantage of having a control office on the spot, they are beset by manifold burdens in conse¬ quence of compulsory preventive control. For it is quite clear that extraordinary laws have no prospect of being obeyed unless they are accompanied by extraordinary means of enforcement. Hence we find — in France, for example — institutions for the inspection of shops and workshops, of the burden¬ some nature of which we need offer no proof, the character of the system being sufficiently indicated by its name. The petition of the German silver manufacturers, which has been often referred to, ignores the rules which would be necessary to secure the execution of the proposed law. It is evident, however, that although it would be scarcely possible to introduce an inspector of shops and workshops in the German empire, still the control offices in the three great neighbouring states of the empire could not well be 102 GOLD. dispensed with if legislation were to decide upon making a definite degree of standard compulsory. Were it desirable to renounce the control offices, it must be observed that the State cannot avoid heavy punishments for the transgression of its laws upon standard, if the law is not to remain a dead letter. But then what a Government rod would the persons who signed the petition in question have laid up for themselves ! The wish was to gather roses, but their thorns were forgotten. A workman whose time is precious, and who has not at hand the can containing gold of the standard demanded by law, makes use (perhaps merely through error) of gold of a lower standard. Where is here the boundary between oversight and fraud ? Might not a similar case happen to every manufacturer of precious metal ware ? Does not each one, then, stand daily in danger, not only of being sentenced to severe punish¬ ment, but of injury to the highly-prized reputation of his firm ? Should it be answered that, in the case of a general manufacturer of one standard only, such an error could not be possible, yet it is not beyond the region of possibility that a workman might act dishonestly, as he might otherwise act in mistake. Finally, it is to be considered that a close inspection of the standard of precious nietal ware is surrounded with very great technical difficulties. It is, indeed, often impossible, and that not only in the case of GOLD. 103 very small articles, which would have to be wholly destroyed in order to establish their standard ac¬ curately, but also in the case of larger ornaments. At the sitting of the Committee of the Austrian House of Delegates, on the 16th October, 1863, a person conversant with the subject spoke as follows : “ I ask how shall this brooch be brought under control ? It consists of three parts ; the lower rim is hollow, the middle is enamelled, and the upper part is of delicate flowers. Where shall it be in¬ spected, if every part must separately bear a stamp ? Perhaps the pin only is to be subject to control. That will content neither the public nor the autho¬ rities ; for every person is at liberty to detach the pin and to fix it on a bad article ; in which case I must bear the responsibility.” Analogous cases occur very frequently. It has often happened that chains, necklaces, and bracelets, consisting of several parts, having received the stamp on one part only, have in all the other unstamped parts had gold of a lower standard substituted for the proper one. Mr. Nessman, Director of the Government offices in Hamburg, who has a thorough practical know¬ ledge of the art of gold manufacture in the provinces, also says: “ A teapot of Copenhagen silver being stamped in several places, it was imprudently pur¬ chased by me at the worth of Copenhagen silver, 104 GOLD. When melted down it turned out that the actual body of the teapot — the most considerable part — was of insufficient standard. In the case of chains, the outside parts (terminating links) of which are stamped, even a pretty well practised eye cannot always detect the lower standards of the parts which are soldered on to them, because the electro-plating gives a similar colour even to the inside parts which cannot be polished.” The public would fare worse, however, if an exact Government control were impossible, and certain categories of precious metal ware were for¬ bidden. The laws collected above contain numerous examples of this ; and it is easy to see what great and exceptional hindrances are here laid on a manufacture, and to what an extent the satisfaction of the requirements of luxury is narrowed in this way, and consequently how much more costly the articles become. So in several states precious metal ware filled with cement, which combined cheapness with the object of the law, is totally forbidden. The streak test is insufficient in many cases to ensure an accurate investigation ; and even the test of cupellation can only prove the standard of a single portion of an article. To establish accurately the standard of the whole mass of an article of gold or silver it would be required to melt it down. It must GOLD. 105 be granted that by the increased number of tests adopted the standard may be settled at pleasure. In countries having a preventive State control, the average probability of the standard being decided correctly is not great. Everyone who is interested in this side of the question can easily obtain con¬ vincing proof. Nothing is more significant than the fact, im¬ parted by Mr. Singer, a competent authority, in the Committee of the Austrian Deputies, viz., that the principal assayers in Munich, at the time the control was undertaken by the corporation, did not respect the Austrian official control. These gentlemen received knife handles, provided with the official control stamp, in which inferior metal was to be found at the rate of 34 florins’ worth in twenty-four handles. Another good authority stated that, in spite of official control, fraud was to be met with “ really very frequently, and in well known houses or firms.” The “ Pforzheim Observer ” has over and over again reported cases bearing incontrovertible testi¬ mony to the inadequacy of Austrian control. In the issue of that journal for 7th January, 1874, we read that gold rings manufactured in Pforzheim were repeatedly rejected by the Viennese control offices, in spite of their having the legal standard ; which show s that business should only be done with Austria io6 GOLD. with the greatest precaution and care. One cannot shut one’s eyes to the fact that the preventive system of control is calculated to injure its business inter¬ course, even with those foreign nations which are inclined to submit themselves to the restrictions of standard. We hear on all sides, and from many countries, that the imperative-preventive control has not attained its principal object, viz., the protection of the public ; and it has therefore been abandoned, as unsatisfactory, in Belgium, Italy, the Swiss Cantons, and elsewhere. Other nations, in the course of their experiments, are arriving at the conclusion that the struggle of competition forms at once the best and the sole security for the protection of the public. Even in France, where the public submit more willingly to State control than in any other country, the system is being shaken ; and it may be calcu¬ lated that the legal limitations to the precious metal trade will at last be remoulded. If the system of State control for all precious metal ware be abolished, it is not of importance that the control should be maintained for a portion of these goods, viz., for wares the manufacturers or sellers of which deem it advisable to add to the reputation of their name the guarantee of the State, or, as not unfrequently happens, to re-establish the former by the help of the latter. We feel the less inclined to address ourselves to GOLD. 107 this so-called facultative system, which leaves the standard prescribed by imperative-preventive control optional to the seller or manufacturer. For, if the State which undertook to watch over the standard of precious metal ware did not succeed in protecting the public from fraud, how shall that State succeed which assumes the control only in order to oblige ? If the State be not in a condition to protect the public from fraud, and yet shelters, with its credit, the credit of a certain class of its citizens, it becomes the accomplice of those who endeavour to defraud the public. Since, however, the system of facultative control has been adopted in several states in which the imperative-preventive control has proved itself un¬ tenable, we see on the one hand that the step appeared too radical of passing at once from pre¬ ventive control to complete freedom. On the other hand, the influence of the manufacturers to whom this system promises advantage, certainly at the public cost, remains paramount ; so it is easy to be understood that, in Geneva, for instance, where the precious metal trade has a great reputation, and finds a large outlet abroad, a decision was made in favour of this system. There is not the smallest reason why the same' thing should take place in the German empire, for, although the German gold ware is extensively io8 GOLD. purchased abroad, it really is not on account of its pre¬ eminent beauty, or special purity of standard, but on account of its cheapness. Cheapness, however, cannot be certified by a government stamp. The last proposal which we have to examine runs thus :— To prescribe by law to the manufacturer the marking of the standard and of his own firm, or of a sign for the same. This is a proposal which reappears in many of the judgments of the Chambers of Commerce kindly imparted to us. It is certainly true that this has already taken place in the Grand Duchy of Hesse, through a decree of the 2nd June, 1829, by which the manufacturers of precious metal ware are rendered legally answerable, under penalties, for the correctness of the standard declared ; but the question is whether the public will in this way obtain a better protection than the option of a civil lawsuit at present secures to it. It is next to be considered that responsibility under penalties, in a province where an error may so easily occur, is a vexatious demand upon the manu¬ facturers of precious metal ware ; a demand which, in increasing the responsibility in the pursuit of the trade, cannot fail to diminish the number of those who are inclined to devote themselves to it. A rise in the price of precious metal ware must therefore follow upon a law of this nature. The fraudulent GOLD. 109 dealer, however, will not be deterred by the threat of penal consequences from practising fraud, even to the widest extent. He will consider, with sophistical accuracy, that the public, regarding the great risk incurred by every seller of fraudulently announced standards, will never think it worth while, just on that account, to have the ware assayed according to its standard. This legislation, therefore, has simply had the effect of throwing the public off its guard. The undoubted increase of fraud is to be foreseen in consequence. These cases of fraud would, however, be less frequently punishable, because, as a rule, they would come to light only on the sale of the object in question at the worth of the metal. But, as articles of precious metal are long preserved, many years would probably have passed by, during which fraudu¬ lent persons may have died or disappeared. Even supposing a case of fraud to be for once discovered immediately, how few would there be who would give themselves all the trouble and loss of time in¬ volved in going to law. For fraud generally will be practised only upon a buyer who is not likely to have the standard assayed ; and he, moreover, will be the buyer of ware of small value. The seller will be cautious in the case of a buyer in whose eyes the worth of the metal is of importance. The remarks we have made are further sup¬ ported by the fact that the guarantee given to the I TO GOLD. buyer by a law of this kind is very insufficient. For how small is the value of a stamp ! In the next place, a large group of precious metal wares must of necessity be excluded from stamping; such, for instance, as gold and silver beads, very fine chains filigree work, and ware covered with enamel. How can a stamp be placed upon these ? Thus the legal compulsion of the employers to stamp manufactured precious metal wares is necessarily subject to con¬ siderable exception. Again, since it must be left to the judgment of the individual to decide as to ware that will take a stamp and ware that will not, the dishonest dealer will aim at over-passing the limit, and seek to profit by the legally-allowed exceptions, on the pretext of the widest possible sale of wares of a very low standard. A much larger question is bound up in this of stamping ware manufactured of metal of different standards. Even the most enthusiastic supporter of the Government regulation of the standard of gold and silver ware, if he have only a suspicion of the exi¬ gencies of the trade, will not desire this. What, then, is to be done ? In the Committee of the Austrian House of Delegates, to which reference has been made already, a manufacturer showed an orna¬ mental article which would have to receive forty-eight stamps, if all the parts of different standards, and all GOLD 111 those parts which could be separated and replaced by others, were to be stamped. How often do such cases occur ? How great would be the labour of the manufacturer, for which naturally he would be obliged to reimburse himself; and who would care to buy articles thus covered over with stamps ? It has been proposed to prescribe the declaration of the average standard. But this can only be found out by melting the article in question. The purchased ware would have to be destroyed that the seller might be under control. And what is to be done with those articles which consist of precious and of inferior metal, the compound parts of which cannot be separated without destroying the articles ? What is the use of the declaration of standard to me if I cannot guage the quantity of gold or silver in the article ? It is, there¬ fore, evident, that in a very large number of cases the proposed law could not be carried out, and that in an equally large number it would be useless. Even for the remaining cases the stamp does not appear to be advisable. In order that the sign of the manufacturer might assure a proper security, each manufacturer must make use of a separate one ; and throughout the German empire every manu¬ facturer would have to deposit his trade-mark in the Imperial Chancellory, whose care it would be to see that every manufacturer had a different one. How I 12 GOLD easily an exchange might be made is particularly evident from the fact that a maximum size of stamp would require to be prescribed, in order to reduce as much as possible the number of wares which, from their small size, would not bear a stamp. And if a manufacturer were bent on employing a false stamp, consider how easy it would be to imitate a stamp ; and how difficult in such a case would be the proof! How often have the genuine official stamps been cut out and soldered into wares of lower standard ! Can the same thing not be done with a private stamp ? How widely, therefore, through the land, would a door and gate be opened for fraud 1 “As a good father will not disown his children, so the custom of impressing the trade-mark of the manufacturer upon machines, lamps, dresses, and so forth, is the sign of a manufacturer confident in the goodness of his wares, and it will be only the false gold manufacturer who will raise objections to this demand (that of stamping his firm and place of abode upon the wares.” So writes Karl Roscher. We doubt this, most decidedly. It may easily happen that a gold manufacturer of high repute is compelled for a time, at a certain crisis of his affairs, to use a very low standard instead of a high one. It would be of great importance to him to send them out without his stamp, in order that his credit might not suffer ; and, if this were not possible, it would be GOLD. 113 better he should renounce altogether the manufacture of cheap articles. An author has the liberty of writing anony¬ mously, or with a nom de plume , when he is not quite content with his writings ; why may not a goldsmith have the same liberty ? It sometimes happens that the purchaser himself does not desire the standard and maker’s stamps on the article ; and the retail dealer often raises very great objection to them. The public, as a rule, are not at all desirous of having the name of the firm or the standard marked on the goods. The bad name of a firm, or a low degree of standard, would make a gift almost worth¬ less. Many who have very little money to spare, and are yet anxious to give pleasure, would be de¬ barred from making any present at all if this were to be insisted upon. And this is a consideration of no small moment in the times in which we live ; for it is just in those precious metal wares that are so universally used for presents, and whose prin¬ cipal object is to gratify vanity, that appearance plays the most conspicuous part : make this appear¬ ance impossible, and the German precious metal industry would suffer from the severest blow it could possibly receive. In the Austrian Chamber of Deputies it was stated “that the Orientals get most of their large H GOLD. 114 supplies from the German manufactories, because they have no stamps upon the wares.” 1. The Imperative-preventive Control ; 2. The Facultative Control System ; 3. The Manufacturer’s Sign or Stamp on the wares, are the three principal systems of legal regu¬ lation of the standard of gold and silver ware. Combinations of these three systems are formed in every conceivable manner ; but, as they are formed from the elements which have been under notice, it is not necessary to consider them further. For who cares to make the machinery of the wheel good, when the wheel itself is useless ? PART VII. What interest have the workers in precious metals and their employers in the question of the legal regulation of exact standards of gold and silver zuare ? N Geneva, and the centres of industry— Neufchatel, Jura, Chaux-de - Fonds and Locle—where the question of the standard was at one time the great question of the day, and swallowed up almost all other interests, many of the working-classes took a very prominent position in battling for the legal regulation of a high standard. In Jura, for instance, the watch-case makers so be¬ stirred themselves. There, as in all centres of precious metal trade, it has been found that the manufacture of gold and silver of high standard leads to a higher GOLD. 116 average rate of wages than the manufacture of precious metals of a lower standard. We hear from a Geneva goldsmith—“ Generally, labour is paid at a lower rate on works of 14 carats than on works of 18 carats.” Naturally ! With the increase of value in the raw material the wages of the workmen increase, as they must be of a high class, and able to give security for their trustworthiness and honesty. The manu¬ facturer, therefore, is required to pay a very high price for reliable labour, of which the supply is limited. Another fact of great importance is, that gold and silver of a high standard are, as a rule, only manufactured into articles whose workmanship is of a high class. Anyone inclined to possess an orna¬ ment of greater solid value than usual, will also, to make the outside correspond to the inside, pay a high price for a new and tasteful pattern, beautifully executed. And, that these designs may be skilfully executed, workmen of high class ability are necessary. The manufacture of precious metal ware of very high standard generally goes hand-in-hand with special care in carrying out the design. But if any design has been multiplied hundreds of times, of course the manufacturer reckons upon purchasers who attach no importance to the possession of new designs, and who are not inclined to spend much GOLD. 11; money upon gold or silver plate. This class of purchasers, representing the great majority, are, therefore, satisfied with articles made in numbers by machinery, which, as the manufacturer very rightly judges, must, in order to attain their object, be very cheap, and consequently of a low standard. If, however, it be true that in working high standards the relatively greater trustworthiness and skill of the workman demand a higher rate of wages still we must not forget that in places where only the manufacture of precious metal of a high standard is allowed by law, the sum total of goods ordered will be correspondingly small, and consequently will only slightly influence the demand for workmen. Nevertheless, it is also an undoubted fact that the demand for workmen in the manufacture of precious metals of a low standard, having skill and reliability only of a medium order, will be greater than in the other case ; and that the collectiv, amount of wages paid will exceed what would have been paid under such legal restriction. It is not to be doubted that freedom in the application of the standard tends to the advantage of the workmen. If freedom in the choice of the standard tends to the advantage of the working class, how fares it with the manufacturer ? In relation to this inquiry it must be admitted that in workshops in which articles of a low standard 118 GOLD. are made, and where customers are numerous, the cost of carrying on the business is propor¬ tionately smaller, than in workshops which serve but few customers, and employ but few workmen. The rent, the furnishing, and the technical and mercantile superintendence are not, in proportion, as dear in the first as in the last. Again, the larger manufacturer, who is per¬ mitted by law to work all standards, can afford to sell much cheaper ware than one not so favourably situated. Of course, those who exclusively work at the highest standard will, as a rule, suffer no disadvan¬ tage in the event of that alone being legalized. We must not omit to take into account those periods of stagnation which occur so often and so suddenly in trades specially devoted to luxury. A war, or a crisis in the Funds, operates adversely to them at once. Thus, a Viennese silversmith told us at the Exhibition that he had twenty-three silver dinner-services on hand, with the name and arms of those who had ordered them, owing to some sudden inability on their part to pay for them. In these times, when trade is so dull, it would be a benefit to many a manufacturer if he could work at what standard he pleased, and so suit the tastes and means of the many. And apart from material gain, he would have the great advantage of being able to GOLD. 119 retain his staff of skilled workmen, who know the secrets and working of his establishment, instead of dismissing them for lack of employment. Of course, freedom in the choice of the standard would be an ^lndoubtcd advantage to the manufacturer. The Geneva goldsmith confirms this statement. “ Liberty of standard,” he says, “ is in my opinion a very good thing. If we had it not in Geneva, we should absolutely have nothing to do at this moment.” Let us record here that the goldsmith who writes this, generally works only metal of very high stan¬ dard. His letter is dated April, 1873, a time of serious commercial depression in Geneva. DEDUCTIONS. In the foregoing pages it has been shown that ex¬ periment and logic alike condemn the legal regulation of the standard of gold and silver w r are, and that there is good ground for saying that great advantage would accrue to the public, to the precious metal workers and employers of labour, from freedom in the choice of standard. The Author submits his opinion that— Legal regulations for the standard of gold and silver ware do not protect the public against deception ; and that therefore they are worthless. Although we are thoroughly convinced of the correctness of the plan we recommend, we do not conceal from ourselves that, public opinion leaning so strongly towards the advantage of State control, it will be most difficult to effect any change. What has been advanced in the preceding pages abundantly demonstrates the tendency of the precious metal industry towards securing freedom. GOLD. I 2 I The history of the laws and regulations con¬ nected with the precious metal industry in those lands where the State has interfered with its course, shows that they are gradually becoming less strict ; indeed, in several countries they have been with¬ drawn, leaving the industry at perfect liberty. Without undue confidence, we dare express the hope that, notwithstanding the previous decisions of the legislators of Germany on the question of stan¬ dards, we shall witness the emancipation of the precious metal industry in the German empire. CONCLUSION. 'HE deductions at which Herr Studnitz has arrived — “ That legal regulations for the standard of gold and silver ware do not protect the public against deception, and therefore are worthless will hardly be deemed convincing; for I fear the argu¬ ment woidd hold good in favour of abolishing all the machinery for detecting and punishing crime, on the plea that crime still recurs in spite of all our efforts to suppress it. It seems that the free trade which a dishonest trader woidd contend for, is that zuhich ultimately woidd make all trade impossible, as it could thrive only so long as the cheat was the pet object of protection. The allegation that a man of good character may find himself at a certain crisis tempted to lower the standard of his gold ware, and then refuse to put las name to the spurious article, for fear his repute should CON CL US ION. 123 be jeopardized, is not an argument likely to find much favour in a country which has some prejudices left in favour of the policy of honesty. It is more than possible, that trading on the ignorance or credidity of the public, might lead to a corresponding distrust on their part, not generally credited with the residt of raising the profits of trade. Depreciated stock has the knack of falling in the market. The easy possession of spurious value is a bubble which collapses occasionally. How the author can sustain the analogy betiveen the anonymous writer and the trader, whose good name would be forfeited, were he known to be the issuer of spurious gold ware, is not clear, unless he means that the man who issues the libellous matter, whether with a nom de plume or not, is very near the criminal dock. “ Why may not a goldsmith have the same liberty ? ” he asks; I presume he must mean, with the same residt. May I ask, woidd it not be better for all the trade to work in good faith and in harmony with the Gold¬ smiths’ Company, calling upon that company sternly to resist the countenancing in any way of the deceptions which are now the subject of severe animadversion from those who advocate the continuance, no less, than of those who strive for the abolition altogether of Hall Marking or its co-efficient. 124 CON CL US ION. It is a reproach to the trade and to the Goldsmiths Hall, that nowhere abroad is the public so unprotected against fraud as in England. I have exhibited publicly a collection of genuine Hall-marked articles, which presented almost every variety of ingenious deception. The Hall-marked gold wares were made so wondrously to personate what they really were not, that the careful purchaser, armed with instructions and using a good, magnifying glass, would yet have been deceived. He would have purchased in confidence, and found out the cheat sootier or later. What ultimate benefit to the trade or to the public zvould ensue ? If the Goldsmiths' Company will not contribute its influence to remove this scandal, the trade must combine to secure the advantage of a recognised standard for their mutual honour and security, and insist that all articles containing gold of less than I 2-carats, shall be sold as metal, and not recognised by the name of gold. The standard I should, then, strive to introduce, zvould be that which I have advocated for thirty years, the i Near at gold; the durability and advantages of which my long experience entirely confirms me in per¬ severing to perpetuate. EDWIN W. STREETER, 18, New Bond Street , London. View of the Standards of Gold and Silver Hares in different Countries of the World. GOLD. 125 cn £ 03 hJ c/3 ™ £ 'o oj V I_J C 5 o o Z Z c 03 25 J-. V £ o C IS O rf ^ 1-1 0 35 a, .2 X u V u cu O Jo '10 3 ® cog ' >do do ®H 9^10 c »c 51 ?^ "lo o|2 cl? G io h q S§ ®M HS *p 0 I° SB P H » O ; ' nS • .- 'C C/3 O • S C/3 S C U > O ti ^ -5 co u w *3 T 3 13 % % « SJ E 3 O uo £ QHOwK£c/)£«< Gold Ware. Silver Ware. 126 GOLD. 1 — o m 3 a. r-| c o u 4 -* o £ i-c 1- o o in in 3 3 a, a, E S o o u o ■ 4-4 - 4—4 o c £ 2 ; V 0 CO 5 : rf nj H-1 d a3 CD a3 a, CJ CL) a; V a. s 4-> co a ’5 O CO CO 0*12; |°HoOp z x -~ SHhH rP Sp p H o o ;p»o c °io X-OC r IO §0 So . ®|H sg lo ^10-10 og So oxog LO 1 ^ lO'H X 0 10 So "'1 O |o -^ 0 % S|§3- . . HS • • So ®h JO : *!§ • HS jo . H : : d°s£ Hh^ih 750 1000 7 5 0 lOOO 7 50 lOOO c lo 0 io 0 p §§ s 1 # HH |H "'tJO So ^10 Hh 0 10 3o «IO 0 10 Sj§ Hh CIO 010 CIO rH|H ■So Sp °°o : Ho • : S '“IO sb O lo . . °io “Ps| ' • JOJO : 2=d= Hh^ih aJ n3 > (U <2 "x c 3 tj D : : x) : 3 > u e c g cj o (D o 22 2 iJ £. s-. 3 bO O 33 A 19 0 3 7 3 22 2 3 19 DA 18 3 3 6 4}4 22 1 3 18 9 18 2 3 5 5 3 A 22 0 3 17 18 1 3 4 DA 21 3 3 16 nA 18 0 3 3 8 A 21 2 3 16 lJ A 17 3 3 2 10 21 1 3 i5 z'A 17 2 3 1 II J /< 21 0 3 14 4 17 1 3 1 20 3 3 13 5 ^ 17 0 3 0 2 20 2 3 12 6 H 16 3 2 19 3^ 128 GOLD. Table showing the value per ounce of the different qualities of Gold, calculated at the highest Mint prices. Gold of Worth per ounce. Gold of Worth per ounce. Car. Grs. £ s. d. Car. Grs. £ s. d. 16 2 2 18 4 # 8 I I 9 2# 16 1 2 17 6# 8 O I 8 3 # 16 O 2 l6 7 # 7 3 I 7 5 # 15 3 2 15 9 7 2 I 6 6# 15 2 2 14 10 A 7 I I 5 8 IS 1 2 13 11 # 7 O I 4 9 # 15 O 2 13 I 6 3 I 3 10# 14 3 2 12 2 # 6 2 I 3 O 14 2 2 11 4 6 I I 2 1# 14 I 2 IO 5 A 6 0 I 1 2 # 14 0 2 9 6 # 5 3 I O 4 # 13 3 2 8 8 5 2 O 19 5 # 13 2 2 7 9 # 5 I O 18 i 13 I 2 6 10# 5 O O 17 8 # 13 0 2 6 0# 4 3 O l 6 9 # 12 3 2 S 4 2 O 15 11# 12 2 2 4 3 4 1 O 15 0# I 2 I 2 3 4 # 4 O O 14 2 I 2 0 2 2 5 # 3 3 O 13 3 # I I 3 2 1 7 3 2 O 12 4 # I I 2 2 0 8 # 3 I O 11 6 I I 1 1 19 9 # 3 0 O IO 7 # I I O 1 18 11# 2 3 O 9 8# IO 3 I 18 0# 2 2 O 8 10# IO 2 I 17 2 2 I O 7 11# IO 1 I l 6 3 # 2 O O 7 1 IO O 1 15 4 # 1 3 O 6 2# 9 3 I 14 6 # I 2 O 5 3# 9 2 1 13 7 # 1 I O 4 5 9 1 I 12 9 1 O O 3 6 # 9 O I 11 10# O 3 O 2 7# 8 3 I IO 11# O 2 O I 9 # 8 2 1 IO 1 O 1 O O 10# APPENDIX. Gold is always estimated in relation to standard gold, which is an alloy of gold and copper in the proportion of 22 to 2 ; should it contain 23 parts of gold by weight out of the 24, it is said to be 1 carat better than standard.—See p. 15, Introduction. Tin or nickel interferes with the process very materially, as neither will pass into the cupel even if assisted by large quantities of lead, but remains on the surface as a sort of slag in which particles of precious metal may become entangled.—See p. 17, Introduction There is a proverb among the workmen which runs thus: — “ Kiihle getrieben und heisser Blick, 1 st der Probirkunst Meisterstiick.” “ Calm in act, and quick to see, Must he who proves our mystery.be”. See p. 18, Introduction. The Goldsmiths’ Company was based upon that of the Lombards. The trade of the goldsmith was not then as now, merely dealing with and making gold and silver ware, but it included banking. In the reign of Edward IV. it was constituted a body politic and corporate, with perpetual succession and with a common seal. It was in this reign that the Company was invested with a privilege of inspecting, trying, and regulating all gold and silver ware in all parts of the kingdom, with power to punish offenders ; and a privilege also of making laws for their better government, which, if strictly exercised, would prevent the frauds which are daily occurring.—See p. 24, Part II. No tax was then, as now, levied on manufactured plate; but all articles made of gold and silver were to be of the same purity as the coin of the realm. The workmanship of plate in this age (Henry VII.) cost but little, as luxury had not reached that point to which it afterwards attained in the hands of Benvenuto Cellini, at Florence, and of his suc¬ cessors in other parts of Europe.—See p. 27. Recense from the French verb recenser, to verify goods again.—See p. 41. By a Royal Ordinance of 1793, the goldsmiths of Paris were placed under the inspection of public officers, who were to attend the process of the manufacture, to ascertain the purity of the metal, &c. And these goldsmiths were bound to have their furnaces and forges in their open I 130 APPENDIX shops, in view of the public from the street, and to affix a notice of the fineness or number of carats of the articles then in process of manufacturing —See p. 36. It was computed that the amount of the gold and silver used in France annually, at the end of the last century, for ornaments and utensils, was nearly a million sterling.—See p. 43. The Goldsmiths’ Company, have the power to check fraud, but will not move except the case is taken to them all ready for prosecution.— See p. 124. The right of the Crown to gold or silver mines, or gold workings of any kind, has never been disputed; but when gold is obtained from mines worked for other metals, the crown is only entitled to value it at a fixed price. The law of Ireland on this subject is entirely the same with that of England. In Scotland every landowner can demand from the Crown a perpetual lease of the gold mines on his estate on condition of paying one-tenth of the produce to the Crown. Gold seems not to have been coined in Greece before the time of Alexander the Great. Silver coins were first used in Rome 266 b.c., and gold coins 62 years later. Although gold was highly esteemed in very remote periods, we never hear of it as the common measure of value for other commodities, or as a medium for exchanging goods. In the time of Abraham silver passed as money in weight or as shekels, “ current with the merchant.” The “ currency ” thus was in operation 3,800 years ago, or 1850 years before the Christian Era. The science of separating the metals from the substances in which they were found advanced but very slowly among a rude people. The ancient Britons formed their establishments for purifying their ores, in gullies which were washed by rapid streams of water; and previous to the Roman invasion they carried on the smelting in the following manner. The ore was broken and placed in a pit dug in the ground, with wood between it and on the sides of it. The wood was then set fire to, and the ore brought to a flux, and the separation of the metal secured by passing the fluid out of the pit through a narrow channel into another pit. Egyptians seemed to have availed themselves of the aid of fire in the first part of the process to clear the ores of a large portion of the foreign matter and then crushed them in mills before smelting. When the ore had been ground to a moderate fineness, the metallic particles being the heavier were separated from the earthy by washing them in a current of water. APPENDIX 131 For separating and fining gold, alloys were employed, consisting of lead, tin, salt, and barley bran. This was continued for five days, and after cooling a mass of clear and purified gold was obtained. The “Touchstone” is a valuable aid to the operation of gold testing. To use it successfully, known qualities of gold alloy must be compared with unknown, and to enable the examiner to do this with facility, the little appliance here represented has been constructed. The article to be tested, must be rubbed on a piece of Lydian stone or black Wedgwood, and according to the color shown thereon, so may be ascertained whether 9, 12, 15, 18 or 24 be-the standard. The vast accumulations of precious metals which the leading nations of antiquity possessed may be judged by comparing their weight and value with our own recognised standards. The Jewish weights are reduced to the standard of grains of our Troy Weight, whereof 438 are equal to the Roman ounce and to our ancient English Avoirdupois Ounce. 1 shekel contained 219 grains. I talent of Gold contains 3000 shekels, or 657,000 grains. ' Value in English money £5,475. 1 talent of Silver weighs 3000 shekels. Value in English money about £353 nr. ioo'. Exod. xxxviii. 24. 29 talents and 730 shekels at £4 per oz. equals £159,607 jj. The quantity of gold which Solomon collected in a single year is stated to be 666 talents, in value about £300,000 of our money. The Sanctum Sanctorum had gold overlaying it to the amount of £130,000. The annual tribute of Darius was 14,560 talents, or about £3,250,000. It was melted and kept in earthen vessels. Even the king of a minor territory, that of Phrygia, gave Xerxes a tribute, amounting to £3,600,000 of our money. 18 CARAT INDEX. Pages Alloy the, of standard gold ... 17, 20, 59, 129 Alloys used by the Egyptians for sepa¬ rating and fining gold .130—131 America, no statutes in, concerning the stan¬ dard for gold or silver ... ... 69 Ancients the,their know¬ ledge of. alloys ... 21 Anhault-Dessau, its law against false stan¬ dards ... ... 68 Archimedes,hisdiscovery 20 Arguments against State interference in the precious metal trade 79,80 Pages Arguments against the standard or the maker’s name being marked on gold and silverwares ... 108—114 - against State con¬ trol summed up ... 120, 121 - against legal regu¬ lations urged by Studnitz refuted ... 122, 123 - in favour of State legislation ... vii—xii Austria, its legislation concerning the stan¬ dard of gold and silverwares ... 55 - laws now in force 55 -official report of the amount of gold and 134 INDEX. silver stamped in Pages Carat, table of, expressed from 1867 to 1873 94 in loooths Austria’s reply to the ar¬ - gold, table of its gument in favour oi values per ounce ... State legislation -eighteen the proper based on these standard for gold... returns 94 - twelve and under flaoavo? meaning and should be sold as metal use of ... . . 16 Competition, the best - where found 16 security against Bavaria, its gold and fraud silver standards ... 66 Compulsory preventive Belgium, its legislation control, its disad¬ concerning the stan¬ vantages ... dard of gold and Control offices established silver 46- 50 in the English Besancon, its trade in the provinces... precious metals ... 43 - in Austria, results Bremen, no laws in of... affecting the pre¬ Copper, proportion of cious metals 68 in standard gold ... Britons, the ancient, Crown the, its right to their methods of. gold and silver purifying ores and mines of melting 130 Brunswick, its legisla¬ Denmark, its legislation tion on the stamp¬ concerning the pre¬ ing of gold and cious metals silver wares 67 Duty on gold and silver Carat, meaning of the word >5 in England Egypt, its laws regarding -number of to the the precious metals, German mark 15 see Turkey - its divisions into Egyptians, their melting grains . . 16 process Pages 127 127, 128 xi 124 106 101 29 5 6 129 130 44—46 3 °. 3 > 46 130 INDEX. 135 Pages Pages Engand, the standard of German Empire, un¬ gold, how deter¬ settled state of its mined in ... 15 legislation concern¬ - oldest regulations ing the precious ir, regarding the metal trade 69- -73 piecious metals ... 2 3 - new law proposed -general legislation by 154 silver manu¬ on the standard of facturers ... 71 - -73 god and silver ... 2 4 — 33 -merits of the pro¬ Exported gold and silver, posed legislation premium on 33 fully discussed 74 - -78 Geneva, its laws re¬ Fire tes(, the, account of 17 lating to theprecious France, its legislation metals 7 1 on the standard of - value of its gold gad and silverwares 35—44 trade in 1872 65 -against the extra¬ Glarus, its silver standard 63 vagant use of the Gold, absolutely pure. precious metals ... 34 how determined by -consequences of its severe restrictions... 41 -its chief centres of trade in the precious metals ... ... 43 - value of its trade in gold and silver at the end of the last century ... ... 130 Freedom of Standard beneficial to the workers ... ... 115—117 - advantages to the manufacturer ... 117—119 -Studnitz’s arguments in favour of refuted I2Z—IZ4 Gay-Lussac, his test of silver ... ... 18 the carat... - standard of, how indicated at present - tests of ... - wares exempt from stamping dues in England ... - trade in, discussion of the question whether it should be regulated in the same way as the silver trade - its standards in different countries.. - table of its value per ounce according to its quality - standard, its alloy >5 16 3 * 74—78 125, 126 128 129 136 INDEX. Gold, when first coined in Greece and Rome Pages 130 -- in the time of Abraham used as money in weight... 130 Goldsmiths’ Company, the London, their privileges... 129 - original constitu¬ tion of 129 - extension of their privileges... 129 Grains, number of, to the ounce 16 Greece, its police regula¬ tions respecting manufacturesofgold and silver wares ... 46 Hall-marks, their aboli¬ tion advocated by Von Studnitz "... 74—121 - the continuance defended by the editor ...vii—xii, 122—124 Hamburgh,its silver stan¬ dard 68 -no laws in, affect¬ ing gold ... 68 Hesse, its legislation con¬ cerning the stamping of the precious metals 6 7 Holland, its laws con¬ cerning the stan¬ dard, stamping and duties on gold and silver wares 5o. 5i Pages Italy, its legislation con¬ cerning the standard and stamping of gold and silver ... 5»—54 Labour, how affected by the question of standard ... 115—119 Legal regulations con¬ cerning the standard of the precious metals condemned by experience -condemned by de¬ ductive reasoning... 81—92 -difficulties in their application 102—105 -Studnitz’s argu¬ ments again refuted 122—124 - the three different systems of... 114 - arguments in fa¬ vour of viii—xi Legislation in England, concerning the pre¬ cious metals * 4—33 - in other countries 33—73 - see under France, Denmark, and Turkey. 33—46 London Goldsmiths’ Company, privi¬ leges of ... 24, 25 -their dispute with the Cutlers 26 -extension of their rights 26 INDEX. 137 Pages Liibeck, its standard for silver abolished ... 69 Lucerne, its laws on the gold and silver trade 63 Lydian stone ... 16 Lyons, its trade in the precious metals ... 43 Malachi, his reference to the refiner’s art 21 Manufacturers, should they be required to mark the standard and their names on their goods 11 7 — 11 9 - the, how affected by the question of standard ... 117—119 Mecklenburg-Strelitz, no laws in affecting gold and silver 67 Millauer, his account of a gold test 26 Mines of gold and silver, rights of the Crown in... 130 Naples, its former stan¬ dards for gold and silver . Neufchatel, its laws re¬ lating to the precious metals. 64, 65 Nickel, a disturbing ele¬ ment in the stripe test . 129 Pages Non-interference of the State in the precious metal trade advo¬ cated on various grounds . 79—92 - Studnitz’s argu¬ ments for answered 122—124 vi—xii Norway, its standard for gold . 66 Official control, disadvan¬ tages and insuffi¬ ciency of . 101—105 -abandoned in many countries . 106 Oldenburg, its standard for silver . 67 Ounce, number of,to pure silver . 16 - number of grains in the. 16 - of gold, table of money value of, ac¬ cording to its quality 127, 128 Paris, its standard for gold in medaeival times . Parma, its former stan¬ dards for gold and silver . Petition of German silver manufacturers ask¬ ing for restrictions on the trade. -their arguments re¬ futed . 34 5 ^ 7 > 101, 102 INDEX. 138 Pforzheim, its trade in the precious metals Pages 76 Precious Metals the, when first required to be stamped in England . 2 5 - general legislation regarding in Eng¬ land . 24 - premium on ex¬ ported . 3 Z ) 33 -used as currency, no reason why their trade should be sub¬ ject to State legisla¬ tion . 84—87 - General table of their standards in different countries... 12 5 Protection of the public no reason for State interference in the precious metal trade 87—9 2 Prussia, no restrictive laws in, concerning the precious metals 66 Roman laws regarding al¬ loys and the standard 21, 22 Roscher, Karl, his argu¬ ments against the stamp laws. 111, 112 Russia, its laws concern, ing the standards and stamping of the precious metals ... 60, 61 Pages Sardinia, its former stan¬ dards of gold and silver . 5 2 Sax-Meiningen, its laws concerning the silver standard . 68 Saxony, no laws in, re¬ garding the precious metals. ... 67 Silver,standard of alloyed, how formerly indi¬ cated . 16 - pure, constitution of... ... ... 16 -standard of,how in¬ dicated. 17 - deterioration of, in the crucible ... 19 -tests of . 19, 2° -standard and stamp of, determined in i fi 97 . 29 -wares exempt from the stamping dues in England. 32 - its standards in different countries 125, 126 - when first coined in Rome . 130 Smelting, how carried on by the ancient Britons.;. 130 Smelting, how carried on by the Egyptians 130, 131 Stamping, when first introduced into England ... ... 25 ‘ INDEX. 139 Stamping, counterfeit, severe punishments for, in England and Pages Belgium . 28 -in France . -penalties, whenfinally, 35 fixed in England ... - wares of different standards, and of an average standard, a useless and impos¬ 31 sible provision Standard, meaning of the 110, in term . -degrees of how for¬ 15 merly expressed ... -the, three methods ■5 of deciding. -Roman laws re¬ 16 garding . - British legislation 21, 22 regarding . - legal for gold in 24—33 England . - legal for silver in 3 1 England . - lowering of the, its effect on the 3 1 watch trade. - State interference respecting, con¬ demned, by the test 3 * of experience ■- legal regulations of, interest of workers and employers in 79 . 80 this question ti5—119 Standard general table of, in various countries Pages 125, 126 - expressed in ioooths and carats 127 States of the Church, their former stan¬ dard of gold and silver . 51 Stripe test, the, accountof 16 -insufficiency of ... 104 Sumptuary laws inFrance regarding the pre¬ cious metals. 35 Sweden, its three stan¬ dards for gold 65 - its laws regarding stamping . 66 Switzerland, laws of its Cantons concerning the standard for gold and silver wares 62 Table of gold and silver standards in dif¬ ferent countries ... 125, 1 26 -of carats expressed in ioooths. 127 - of the worth 'of gold per ounce ac¬ cording to its dif¬ ferent qualities ... 128 Test,the stripe,account of 1 6, 17 -applied to gold ... 16, 17 -the fire, account of "7 -Gay-Lussac’s 18 -the Titrir, account of . 1 9 1^0 INDEX. Testing Needles. Pages 16 Testing fees in Lucerne 63 - in Austria. 67 Tillet,his experiments in testing silver 18 Tin, stripe test affected b y. 129 Titrir test, description of '9 Touchstone, the new ap¬ pliance for the pro¬ per use of . 131 Turkey, the general standard of its gold ware . 46 -its laws concerning the standard and stamping of silver... 46 Tuscany, its former standard of gold and silver . 5 2 Unstamped gold and silverwares, penalty for trading in y- Vaud, its laws concern¬ ing the standard of the precious metals 63,64 Pages Vienna, the chief centre of the Austrian gold and silver trade ... 57 Wages, how affected by the higher or lower standard of the pre¬ cious metals. 116, 117 Watch trade, the Eng¬ lish, how affected by the laws regard¬ ing the standard of silver . 32 Wet Test, the, account of . 19 Workers benefited by freedom in the ap¬ plication of the standard . 116, 117 Workmanship, how af¬ fected by the question of standard j 17 Zinc, an alloy of gold... 17 Zurich, its laws concern¬ ing the standard ... 62 PRECIOUS ^pTONES BY EDWIN W. STREETER, f.r.g.s. AUTHOR OF “COLD.” BOND STREET, LONDON. ~IT xtraots of PRESS CRITICISM. LONDON: PUBLISHED BY CHAPMAN and HALL. 1877. PRECIOUS STONES AND GEMS. PRECIOUS STONES AND GEMS. The “Standard,” July, 1817 Says that in the earliest historical records in the pages of Homer, as well as those of Holy Writ, mention is to be found of gems, jewels, and precious stones. From the days of Semiramis, of Rebekah, of Job, of Cleopatra, down to those of Mr. Streeter and Queen Victoria, they have been objects of pleasure and delight to poets, painters, kings, queens, lovers and their mistresses, of all ranks and ages. “ Precious Stones and Gems ” will therefore, find many readers. Everyone may here find out what sort of a neck¬ lace Eurymachus gave to Penelope ; what sort of a ring was that famous one of Polycrates; or how to spell his sweet¬ heart’s name in stones round a posy. He may become acquainted with the romantic history of many a famous diamond. He may learn what Cape diamonds are like; how far they resemble, and how they differ from those of Brazil, India, or Australia. Where and when the best stones have been found, the exact hue, cutting and appear¬ ance of every true gem. Mr. Streeter gives an accurate and complete description of some forty kinds of precious stones and gems, and makes his book still more attractive and complete by a series of coloured plates and photographs. The “Saturday Review,” June, 1877 Quotes from “ Precious Stones and Gems ” experiments made at different times as to the action of heat on diamonds, by which it has been proved that the admission of oxygen K 4 Reviews of Precious Stones and Gems. allows the diamond to burn like coal, giving out carbon- dioxide, the gas yielded by every fire and gas burner. “ People who do not find gas sufficiently expensive may learn in Mr. Streeter’s pages how to burn diamonds. As there seems always to be some uncertainty as to the result, a little refreshing excitement might be connected with these experiments. How the diamond came into existence is perhaps a more interesting question than how it may be destroyed. Men seem as unable as ever to produce dia¬ monds artificially.’’ Mr. Streeter inclines to the opinion “that the diamond is the result of the crystallization of carbon from a liquid solution.” After referring at length to the history of well-known diamonds, the article concludes by stating that the most valuable part of Mr. Streeter’s book is that which relates to the diamond-producing countries. The “Pall Mall Gazette,” May, 1877 After speaking with approval of the general scope and execution of Mr. Streeter’s Work, says :—“ Many curious facts stated by the author will be new to most readers. It is difficult to believe that the rich fields opened in South Africa were unknown ten or twelve years ago. The high proportion of large-sized diamonds is said to be a notable feature in the South African discoveries, and the celebrated ‘ Stewart ’ is only exceeded in size by three others in the world. The quality of the Cape Diamonds is as remarkable as their size, about 20 per cent, being diamonds of the first water. Of rubies, some interesting particulars are given. The King of Burmah is said to have one of extraordinary quality and size, but no European has seen it. The two most important rubies ever known in Europe were brought to this country in 1S75. The smaller of the two was sold abroad for over ^10,000. A ruby of five carats is worth ten times the price of a diamond of the same weight, and a ruby weighing ten carats is almost invaluable. The book is at once instructive and entertaining.” 5 Reviews of Precious Stones and Gems. The “Spectator,” July, 1877 In an article on Diamonds, recalls the fact that, until recently, English Territory had no share except in those much-prized things which have records of fancy and of fable. In 1727, diamonds were discovered at Minas Geraes, in Brazil, but were asserted by the dealers to be only refuse stones imported from India. The Portuguese merchants were compelled to send their stones to Goa and thence to Bengal, where they were sold as Indian stones. When the Bahia fields were discovered, the Government tried without success to make them a monopoly. These two, and the Indian fields, supplied diamonds to the world, until in 1868, a child was the means of the discovery of the South African fields ; and now the Transvaal, our new territory, is Sin- bad’s valley in prose fact. The Portuguese dealers refused to believe in the Cape diamond, but their falling prices proved the mistake, and the future looks decidedly unpro- pitious. There is but one country in the world in which any product of nature is held more precious than this wonderful combustible gem, whose nature indeed we know, but whose genesis is still a moot question for science. The "Illustrated London News,” July , 1877 Gives a summary of the arrangement of Mr. Streeter’s book. The first section, historical and descriptive, discourses of precious stones in general. An entire section of nine chapters is occupied with diamonds, giving separate accounts of the different species with anecdotes of celebrated gems. The third section presents a brief yet sufficient description of the really precious stones. The antiquary, not less than the naturalist, will find a vast amount of curious anecdotes in this pleasant volume. It is illustrated by finely coloured plates, photographs, and engravings, by which last in par¬ ticular our comprehension of the details of form in crystals and cut gems is rendered easy. 6 Reviews of Precious Stones and Gems. The "Graphic,” June, 1877 States that the most cursory perusal of Mr. Streeter’s pages serves to demonstrate the difficulty of an accurate discrimi¬ nation between real gems and their imitations, except by a practised judge. Mr. Streeter thus began with important objects before him which he has steadily kept in view. A few can possess precious stones, but very many can purchase this volume, and the reading of their history is no mean substituted pleasure, though truth to tell, it must put the reader in imminent peril of breaking the commandment against coveteousness. The opening chapters are general. Gems and precious stones are defined; the places where they are found are described with a chatty and romantic story or two, the uses (superstitious or otherwise) of gems in bye-gone times are noted; a capital description is given of the working of precious stones, and information of them also as objects of commerce. The chapters which follow minutely describe each kind of stone, gem, and pearl. The "Morning Post,” July, 1877 In reviewing “ Precious Stones and Gems,” considers it natural that the principal part of the book should be that which treats of diamonds. The accounts given of some of these are very curious, especially that of the well-known Koh-i-noor, which is really more like a chapter of oriental romance than a sober statement of facts. Similar remarks apply to the famous blue stone, which has never been satis¬ factorily traced since its disappearance from the Crown jewels of France in 1792. There is a good description of the several sources from which the greatest number of these stones are procured, such as the traditional mines of Gol- conda, Brazil, and last, but not least, the fields of South Africa. The book is certainly an amusing one. The "Art Journal,” June, 1877 Says Mr. Streeter has brought together an immense number Reviews of Precious Stones and Gems. 7 of curious facts, and has contrived to arrange them in a very tempting book. Information is conveyed at once simply and graphically, and when the graceful volume is gone through the reader will have known “ all about it,” concerning all the precious stones and gems of which the whole civilised world has heard something. The “Daily Telegraph,” August, 1877 Considers the knowledge and experience of Mr. Streeter usefully displayed for the information of all untechnical readers who care to inform themselves on a subject of abundant interest considered in any of its different aspects, geological, archaeological, industrial, commercial, and artistic. The diagrams and coloured illustrations are efficient aids in the comprehension of an otherwise clear and intelligible treatise. The "Morning Advertiser” Is of opinion that this very handsome volume may be taken for the future as the text-book of lapidarian lore. Naturally, the greatest space is given to the diamond, and the chapter on South African diamonds, illustrated with a couple of admirable photographs, is certain to find plenty of readers. Mr. Streeter sent out an exploration party of his own, and discovered enough to convince him that the field is practi¬ cally inexhaustible, aud that the finest stones are yet to be discovered in the bed of the Vaal river. With regard to Australia, Mr. Streeter prophesies that the whole of the New England district, New South Wales, will be found to yield diamonds in paying quantities, and another diamond field will be found ere long in Queensland. The "City Press,” June, 1877 States that “ Precious Stones and Gems ” details the history and distinguishing characteristics of all precious stones with 8 Reviews of Precious Stones and Gems. which people are familiar, as well as with many which are of an out-of-the-way character, and whose names even are rarely seen or heard, and to technical information, which will be valuable to both buyer and seller, he adds not a little information that is really of a romantic character. The “ Bullionist,” May , 1877 Says that the writer of “ Precious Stones and Gems ” is an authority upon the subject. He tells us there are fewer judges of the genuineness and real value of precious stones than there are treatises to guide people to such knowledge. It is plain there must be great difficulties in the way of accurate discrimination. The information on all the numerous stones dealt with is of the most varied and exhaustive description, and interwoven are a number of illustrative incidents which renders it a valuable book. The “News of the World,’’ July, 1877 Considers “Precious Stones and Gems ” one of the most lucid and comprehensive expositions of the subject. The “Sunday Times,” June, 1877 Says study and attention are requisite to obtain a knowledge of the properties and appearances of gems, but the subject is attractive, and the man who has the patience to master it may turn his knowledge to good account. To show the difference between the real stone and the imitation, Mr. Streeter states he often sees the Spinel and the Balas—the one a lovely poppy and the other a violet rose—usurping the dignity of the true Ruby, and yet the pure Ruby of io carats is worth from ^3,800 to ^4,800, and the other stones called by the same name would be dear at one- twentieth of the sum. We hear much about the gems of the ancients, many of the most priceless relics of antique art surviving to us in the shape of gems and other ornaments. Reviews of Precious Stones and Gems. 9 It appears, however, that the art of cutting stones was not understood by Greeks or Romans, whose processes consisted only of rubbing down the angles, polishing the natural surfaces, and arranging them fancifully. After many extracts from the book, the Sunday Times advises the reader curious in such matters to turn for himself to a volume full of instruction and entertainment. The “Sunday Times,” August, 1877 Quotes the story related by Mr. Streeter, how a cunning slave from Minas Geraes, keeping his master’s flocks in Bahia (Brazil) observed a similarity between the soil of his native place and that of Bahia. He sought, therefore, in the sand, and soon found 700 carats of diamonds. He fled, but failed to sell them, and was restored to his master, who tried to extract his secret, but without avail. He was restored to his occupation and carefully watched, the result being the discovery of the diamond fields, 80 miles long by 40 miles broad. The 11 Army and Navy Gazette/' July, 1877 Says there is an attractive power in precious stones and gems, especially to the gentler sex, which renders even the study of’them a pleasing recreation. It would be difficult to enumerate the mass of information, as regards precious stones and gems, that may be acquired by a careful perusal of Mr. Streeter’s book. “Public Opinion," May, 1877 Says perhaps no one in England is better qualified to write on jewels, as an expert, than Mr. Streeter. The geologist, the antiquary, the dealer and worker in precious stones, the private purchaser and seller, the owner, and as surely the wearer of jewels, will alike be pleased to receive the safe and sound information which Mr. Streeter imparts. The chapters on diamonds are of peculiar interest. io Reviews of Precious Stones and Gems. The “Queen/' May, 1877 Says the plan of this book is so comprehensive that it includes very full details on many topics. A chapter on precious stones as objects of commerce concludes the first section. The whole of the next section is devoted to the diamond. The third section is occupied with stones be¬ longing to the more valued class. The next division is assigned to precious stones of less value, including amber. The concluding section of the volume is on animal products used as gems, the pearl and the coral. The “Illustrated Sporting and Dramatic News/' May, 1877 Advises anyone who has failed to secure at Mudie's the novel on which his heart is set, to substitute Mr. Streeter’s entirely fascinating book, which from end to end affords unremitting pleasure, and makes the reader feel quite learned on the hitherto sealed subject of which it treats. Mr. Streeter has accomplished his arduous task lovingly and with exemplary thoroughness. A glance down the list of contents shows that he has left no stone unturned. There is abundant material for a hundred romances in the book, and it has a charm akin to that which years ago abode in the pages of the Arabian Nights. The “Whitehall Review," June, 1877 Says “Precious Stones and Gems” supplies a want which has long been felt. It deals with a popular subject syste¬ matically, it is by a competent hand, and is written concisely, modestly, and with no undue affectation of superior know¬ ledge. Mr. Streeter has spared no pains to be exact in his history and facts, and has given the public a volume of singular originality and undoubted use and taste. The book is anything but dry or tedious to read, and it deserves a place on the library shelves of every educated gentleman, as a storehouse of information on its special subject. Reviews of Precious Stones and Gems. 11 The “Court Journal1877 Describes “ Precious Stones and Gems ” as an instructive volume, giving the history and distinguishing characteristics of diamonds and other valuable jewels. The plan of the work is to give under the heading of each jewel its pecu¬ liarities and characteristics, its original habitation, and the method by which the lapidary fits it for appearance in diadem, necklace, or other ornament. The book is exten¬ sively illustrated with coloured plates, photographs, and engravings, and it cannot be too highly spoken of as a practical book on precious stones and gems. The “Leeds Mercury/' May, 1877 After commending “ Precious Stones and Gems ” as a popular guide, refers at length to the fabulous virtues ascribed to certain gems, of which many stories are repeated by Mr. Streeter. For instance, Onomacritus, a Greek priest 500 b.c., states that whoever held in his hand, on going into the temple, a transparent crystal “ may be quite sure of having his prayer granted, as the gods cannot with¬ stand its power.” The art of cutting and polishing stones was not practised by the ancients—indeed, it was not till 1456 that Louis de Berquem made known his discovery of cutting the diamonds into regular facets. In India, stones are more valued for size than shape, and hence the great irregularity in form of which the well-known Koh-i-noor was an example. After a description of the discovery of the South African fields, the Mercury concludes that the work contains, in a very attractive form, nearly all that is known on the subject. The “Era," July, 1877 Thinks that if the poet who wrote “ Beauty when unadorned was adorned the most ” had read Mr. Streeter’s work, he would have been obliged to admit that beauty may snatch 12 Reviews of Precious Stones and Gems. a grace beyond the reach of art by simply adorning herself with some of these lovely productions. The “Mining World/' June, 1877 Does not remember having seen any work which deals with the subject in such a popular and comprehensible style. No one can dispute Mr. Streeter’s idea of what a gem should be—not merely should it afford pleasure to the wearer, and the spectator, but with fair usage it should retain an in¬ trinsic and marketable value undiminished by lapse of time. As regards scratched gems, our author points out that a small sum expended in re-polishing such stones would restore their original lustre, revive the pleasure derived from the possession of them, and prevent them being sold as paste or imitation jewellery. The author expresses a hope that the Goldsmiths' Company will ere long throw open their rooms, which would give an impetus to those engaged in jewellery trade. The “Scotsmen," August, 1877 Characterises “ Precious Stones and Gems ” as an attempt to popularise information on the subject of which it treats such as can only be acquired by those who have devoted themselves to the study of the subject for years. It sup¬ plies a great many interesting facts about the localities where precious stones are chiefly found, the methods of cutting and treating them, their commercial value, and the like. The “United Service Gazette/' May, 1877 Says that even those who do not care much about acquiring any specific knowledge on the subject, will find “Precious Stones and Gems ” exceedingly interesting. Among other things they will be enabled to trace the history of the most celebrated stones in the world, which in some instances, will be found even romantic. Although the author does Reviews of Precious Stones and Gems. 13 not claim to have written a scientific treatise, he has in reality done so, but, at the same time, he has treated the subject so skilfully, that although it is scientifically con¬ sidered, there is not the slightest approach to dry dissertation. The “Glasgow Herald," July, 1877 Has never met with a book so satisfying on its particular topic. After quoting Mr. Streeter’s account of the discovery of the South African diamond fields, and the finding of diamonds in the district of Minas-Geraes in Brazil, where, from ignorance of their nature, they were at first either thrown away or used as card-markers, the Herald refers to the section relating to other precious stones, such as the sapphire, the emerald, the opal, and the turquoise. The book is cordially recommended to those who think the next best thing to possessing precious stones is to read about them. The “ York Herald," June, 1877 Quotes from “ Precious Stones and Gems ” :—“ A lady refuses to wear a gown composed of inferior materials in¬ tended to represent silk, because its colour, texture, and drapery indicate to every experienced eye the substitutions of the false for the real, but she seems to ignore the fact that the colour, brilliancy, and texture of a true gem are as distinguishable from the false or mere imitation as the cotton from the silk.” Mr. Streeter aims at putting into more general circulation the knowledge required to make the separation. Australian, Brazilian, Indian, and coloured diamonds are treated in turn, and his hypothesis respecting their history is very reasonable. The “ Brighton Gazette," May, 1877 In reference to the chapters on diamonds in “ Precious Stones and Gems ” remarks that there appears to be no date fixed as the time at which the charm attributed to the 14 Reviews of Precious Stones and Gems. precious stone gave place to a more powerful regard for it un account of its commercial value. To state a definite period would of course be impossible, as we know that a shamanistic virtue in the present day attaches to many common things of no value, and how much more likely therefore centuries since and even in modern times would a similar virtue be attributed to precious stones, which few have the power to possess, and whose qualities of every kind are so rare, more or less undoubtedly. Precious stones are still worn rather as amulets than for personal adornment, and as the degree in which they have been so regarded has fluctuated on the whole, gradually decreasing but never becoming wholly extinct. It is impossible to say at what time the precious stone came to be generally valued for its intrinsic worth, but probably at a period somewhat anterior to its introduction as an article of merchandise. Mr. Streeter traces the progress of knowledge in the matter. The Gazette commends his book to all, being convinced that it is one of the best that has ever been published on this subject. The “ Leamington Spa CourierMay, 1877 Remarks that the desire to become possessed of valuable jewels is one of the most pardonable of vanities. And yet how few there are who are able to judge for themselves of the value, or have the slightest knowledge of the history of the jewels they wear. Mr. Streeter has cleared away many obstacles in placing before the public a volume, which, if carefully read, will afford valuable information. The “ Wolverhampton ChronicleMay, 1877 Says here is a most interesting chapter, recording what is known of many of the most important gems of the world. Of the Koh-i-noor, which played an important part in the Exhibition of 1851, we learn that its history dates back to the year 56 b.c. The Dudley diamond is an important Cape stone, weighing 46 carats, triangular in shape, of Reviews of Precious Stones and Gems. 15 great brilliancy, perfectly colourless, and not to be dis¬ tinguished from an old Indian stone. The “Shrewsbury Chronicle " Considers Mr. Streeter’s volume of itself a gem which will be treasured in our libraries. We learn that the jewels in the English Crown are 3,092 in number. They include one large ruby and one large sapphire, four smaller rubies and 16 smaller sapphires, 11 emeralds, 1,363 brilliants, 1,272 rose diamonds, 147 table diamonds, four drop shaped pearls, and 273 other pearls. The book contains superb illustrations of the “ Stewart,” “ Dudley,” and “ Twin ” diamonds, so truthfully executed that one can almost imagine he sees the precious stones themselves. The “ Oxford JournalMay, 1877 Describes “ Precious Stones and Gems ” as a most able and exhaustive work, and one which cannot fail to be of great use not only to the trade but to the public in general. The illustrations are extremely beautiful, and comprise the “ Blue,” the “ Stewart,” the “ Dudley,” and the “Twin” dia¬ monds, transparent stones and gems in the rough, and two photographic pictures of the Colesberg Kopje diamond mine in South Africa. The “ Maidstone and Kentish Journal/ 1 June, 1877 Considers the book a worthy addition to the past valuable efforts of Mr. Streeter. The author expresses a grave doubt whether even in the trade there are many skilled in detect¬ ing the real measure of difference between one stone and another, either by that most essential test specific gravity, or by the minor tests of rarity and quality. 16 Reviews of Precious Stones and Gems. The “ New York Times/' June, 1877 Has heard that there is a diamond for sale at the Salt Lake City. For some hundreds of years it was in the possession of Indian Princes. It was given to Queen Christiana of Spain, who gave it as a wedding present to her daughter. When the latter abdicated, she sold it in Paris, and after¬ wards it was sold in London to a gentleman from St. Louis. He was robbed of it at Saratoga, but recovered it by a reward of 5,000 dollars, “ no questions asked,” and after wards sold at the Salt Lake for 30,000 dollars worth of Mining Shares. The next possessor was a miner, who was cheated out of it by gamblers, and after several more changes it passed into the hands of a firm who now hold it. Mr. Streeter, a diamond merchant in Bond Street, has just published a clever book on precious stones and gems. He should supplement it with the history of the Salt Lake diamond. The “Sunderland Herald " Says the number of people employed in various parts of the world in the precarious and sometimes dangerous occupation of seeking precious stones is vastly greater than at any previous time. The trade in them is of much more im¬ portance than formerly, and in the chief and most valuable commodity, South Africa now rivals India and Brazil. The properties of the diamond are fully described by Mr. Streeter and his history of it is entertaining as well as instructive. His work is well calculated to create increased interest in the subject, and to encourage more general appreciation of the beauties of fine art jewelry. The “Norwich Mercury, June, 1877 Is sure that with such a book as Mr. Streeter has provided owners of gems and precious stones cannot fail to value their possessions the more because of a complete knowledge about them. He has taken the public into the confidence of the dealer in precious stones, telling them how theyare Reviews of Precious Stones and Gems . 17 prepared for the market, and how they may guard against deception. The romance which has connected itself with some of the more celebrated diamonds makes the book interesting even to the general reader. The “Sheffield and Rotherham Independent,” July, 1877, Describes Mr. Streeter’s book as an account of the history and distinguishing characteristics of precious stones and gems. The diamond is considered in its many varieties; then come the ruby, sapphire, emerald, spinel, opal, cat’s-eye, turquoise, and star stones. The origin of the diamond is contested by two or three theorists, one assigning to it a vegetable origin, as did Newton; others believed it to be formed immediately from carbon, or carbonic acid, by the action of heat; and a third, that it is the result of the crystallization of carbon from a liquid solution. The “Edinburgh Daily Review,” July, 1877, on “ Precious Stones and Gems,” calls attention to that part which treats of the properties attributed to precious stones in ancient times. They were said to have the power of conferring health, beauty, riches, honour, good fortune, and influence. Men and women carried them about their persons and called them amulets. They were thought also to have some special connection with the planets and seasons, and a special gem was worn for each month. The Twelve Apostles also were represented by gems called Apostle Stones ; and in later times, an alphabet was formed of precious stones and half precious stones. The “Oxford University Herald,” August, 1877, Considers that “ Precious Stones and Gems,” as a book for the drawing-room table and as a work of reference, leaves nothing in its way to be desired. 18 Reviews of Precious Stones and Gems. The “Liverpool Daily Post,” August, 1877, Noticing “ Precious Stones and Gems,” says the potency of diamonds with the fair sex is thought by some cynics to be literally infinite. Even allowing it only to be consider¬ able, it ought to render this book one of the most popular of the season. It is the work of a recognized authority, and is got up in a manner which the author in his specialist enthusiasm considered befitting to his theme. 11 Financial Opinion, January,” 1878 The diamond, whether from the Cape, Australia, Brazils, or India—whether blue, green, or rose-colour—are all described, both historically and at the present time, with a concisement and refinement of style, in perfect keeping with the fastidious nature of the subject. “ Examiner," February, 1878. Mr. Streeter has handled his subject with a fulness of knowledge which will make his book interesting to all. HOWLETT & SON, Printers, io, Frith Street, London, W. GETTY CENTER LIBRARY 3125 00139 4564