The first South African diamond is said to have been found in March, 1867. The fortunate person was a Dutch farmer named Schalk Van Niekerk, who was struck with the appearance of a stone with which some children were playing. It turned out to be a genuine diamond, and was purchased by Sir Philip Wodehouse, then governor of the Colony, for $2,500. In a short time the governor purchased several other fine and valuable stones. In May, 1869, the magnificent diamond “Star of South Africa” was discovered by a man named Swatbooy, near Sandfontein, on the Orange river. This was a diamond of eighty-three and a-half carats and was purchased for $56,500. Being cut, it produced a fine gem of forty-six and a-half carats, valued at $100,000. The finder of this diamond sold it for 500 head of sheep, 10 head of cattle, and a horse. In a single year since their discovery these fields have yielded more than five stones above forty carats. Professor Tennant thinks we shall have diamonds from South Africa exceeding the famous Koh-i-noor in size and equaling it in beauty when cut and polished. The Sultan of Matan, of the island of Borneo, has a diamond of the first water, weighing 367 carats, and worth at least $3,500,000. The Orloff diamond, belonging to the Czar of Russia, weighs 195 carats, but is worth only about $500,000 on account of being a little off color. It is not too credulous to believe that the diamond fields of South Africa may produce stones equal to these, and which will throw the fabulous “Moonstone,” about which Wilkie Collins has written one of his most fascinating stories, completely in the shade. These diamond fields have already been visited by great numbers of explorers, many of whom have been exceedingly lucky, while others had better remained at home. Astonishingly few scenes of lawlessness and violence have been witnessed, a fact which is owing to the peaceful nature of the Africans who do the most of the digging. The result of the discovery of this extraordinary diamond region was greatly to lower the price of rough diamonds for a season. It is not believed that the price will be permanently affected. Only about one tenth of the African diamonds are of the first water. The ordinary trade in diamonds had been about $800,000 a month--$400,000 from the mines of South America and India, and $400,000 from private parties. The increase from the South African fields has not yet been $100,000 a month, or anything like it on the average. The introduction of machinery and of capital to direct and control the workings, will doubtless add largely to the yield of these precious stones. Rubies are also found here in large numbers, but they are generally small. The probability of the discovery of gold also is very great. * * * * *