diamonds
displayed by The Diamond Trading Co., Amsterdam
In time the refugees reached the Republic of the Netherlands which had rebelled against Spain in the 1570s, won its freedom and gave its citizens considerable freedom. The Netherlands was then the most tolerant country in Europe, so a large part of the Jewish population moved there. With them came the specialist knowledge and craftsmanship of diamond cutting and polishing.
At the time, Jews and Conversos were creating a trading network that tied together ports in Portugal, Netherlands and Brasil. This network became the chief Dutch commercial circuit in the early C17th and offered support to Jews etc. This circuit enabled Brasilian Conversos to return to Judaism in Amsterdam, and Amsterdam Jews to establish a port in Brasil. In the process, the Jews of Recife Brasil and in Amsterdam remained closely connected, especially after war closed off access to the network's Portuguese ports .
Amsterdam Jews arrived in force in Recife during the 1630s, but travelled back to Amsterdam in 1645-54, since the Dutch colony in Brasil was shrinking and eventually captured by Portuguese troops. Jews had contributed commercially and militarily to this brief colony.
In 1725 diamond fields were discovered in Brasil, and Amsterdam gained the monopoly on diamond imports. From then on, Amsterdam became the City of Diamonds! When the diamond fields of Brasil began to dry up, unemployment hit the industry and many diamond cutting/polishing factories went bankrupt. Thankfully diamond supplies were discovered in South Africa. Perfect timing!
Cape Town Diamond Museum
Mapping history of the South African diamond industry back to 1897
After Belgium won independence in 1830 several diamond polishers from Amsterdam settled there, maintaining a limited level of market activity. Jewish immigration from Eastern Europe after the pogroms of the early 1880s, a policy of industrial encouragement adopted by the Antwerp municipal government and the crisis in Holland brought about a reawakening in the Belgian diamond industry.
In 1890, Dutch King William III approved legislation for the Fair Society for Diamond Trade. Thus the world’s first Diamond Exchange could open in Amsterdam. In fact until WW2, Amsterdam remained a world centre for the trade.
The first diamond in South Africa was found in early 1867 on the land of a poor Boer farmer - on the Orange River in the Cape of Good Hope Colony where thousands of Dutch and English settlers travelled, to farm and raise livestock. The farmer’s family collected pretty stones, showing one to the civil commissioner in Colesberg. He pronounced it a 21.25 carat diamond, which was purchased for £500 by Sir Phillip Wodehouse, Cape Colony Governor!
Mapping history of the South African diamond industry back to 1897
After Belgium won independence in 1830 several diamond polishers from Amsterdam settled there, maintaining a limited level of market activity. Jewish immigration from Eastern Europe after the pogroms of the early 1880s, a policy of industrial encouragement adopted by the Antwerp municipal government and the crisis in Holland brought about a reawakening in the Belgian diamond industry.
In 1890, Dutch King William III approved legislation for the Fair Society for Diamond Trade. Thus the world’s first Diamond Exchange could open in Amsterdam. In fact until WW2, Amsterdam remained a world centre for the trade.
The first diamond in South Africa was found in early 1867 on the land of a poor Boer farmer - on the Orange River in the Cape of Good Hope Colony where thousands of Dutch and English settlers travelled, to farm and raise livestock. The farmer’s family collected pretty stones, showing one to the civil commissioner in Colesberg. He pronounced it a 21.25 carat diamond, which was purchased for £500 by Sir Phillip Wodehouse, Cape Colony Governor!
In 1870 diamond workers in Amsterdam were receiving good wages. But the increasingly high customs duties were said to threaten Amsterdam’s position as leader of the diamond industry. Amsterdam’s diamond cutters and polishers increasingly looked abroad.
This discovery prompted Boer farmers on the rivers to look carefully for stones. Small parties of prospectors moved into the region to search. Over the following months, additional diamonds continued to be found, and by 1869 these river diggings had yielded hundreds of diamonds. Soon thousands of people laid claim to land, exploring for diamonds over the Cape Colony. Rich deposits were found, later becoming the famous diamond mines of South Africa. And because of the special relationship which existed between Holland and South Africa, Amsterdam was the heart of the diamond trade
De Beers Group was founded in 1888 by British businessman Cecil Rhodes, financed by a South African diamond magnate and the London-based Rothschild Bank. This international corporation specialised in diamond exploration, diamond mining, diamond retail, diamond trading and industrial diamond manufacturing sectors.
This discovery prompted Boer farmers on the rivers to look carefully for stones. Small parties of prospectors moved into the region to search. Over the following months, additional diamonds continued to be found, and by 1869 these river diggings had yielded hundreds of diamonds. Soon thousands of people laid claim to land, exploring for diamonds over the Cape Colony. Rich deposits were found, later becoming the famous diamond mines of South Africa. And because of the special relationship which existed between Holland and South Africa, Amsterdam was the heart of the diamond trade
De Beers Group was founded in 1888 by British businessman Cecil Rhodes, financed by a South African diamond magnate and the London-based Rothschild Bank. This international corporation specialised in diamond exploration, diamond mining, diamond retail, diamond trading and industrial diamond manufacturing sectors.
Establishing factories & importing workers from Netherlands by the hundreds, the Dutch exodus to the USA transformed New York. Within a few years, the new entrepot had superseded that of Amsterdam to become the diamond market of the world. Centred in downtown Manhattan, the emerging diamond trade of the late C19th added another thriving centre of jewellery making and distribution
In 1926 Ernest Oppenheimer (1880–1957), a German-South African who had earlier founded mining company Anglo American with American financier JP Morgan, was elected to the board of De Beers. Oppenheimer consolidated De Beers until his death. By the early C21st, De Beers controlled 80-85% of rough diamond distribution in 35 countries incl Botswana, Namibia, South Africa, Canada, India, Israel and Australia. Competition has since dismantled any monopoly, though De Beers still sells c35% of the world's rough diamond production globally via The Diamond Trading Co.
We buy gold and diamonds, jewellers cashing in on gold's rally,
Diamond District New York,
Wall St Journal
Towards the late C19th and early in the C20th, articles about the US diamond trade frequently appeared in the American press, including Scientific American and Ladies’ Home Journal. The published articles noted the very large numbers of Dutchmen in the industry, both as businessmen and as workers. Historians were pleased to fin a complex, dynamic and global Jewish economy that bound Cape Town and London, Amsterdam and New York together.
By the early 1920s, more diamond merchants began to contemplate a move uptown, to midtown Manhattan. The prospect of inhabiting up-to-date quarters was one incentive; Grand Central Station’s proximity was another. Plus the downtown jewellery trade was increasingly pushed out by the growing financial services industry.
Israel World Diamond Centre
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