When Constantinople fell into the hands of the Turks, the treasures of the Eastern empire were scattered throughout Europe; but, at the same time, the establishment of the Turkish empire served to close the way to India and the far East for the merchants and travelers of Europe, and, hence, new means of access had to be sought by sea. This, as is well known, was the cause of the voyages of De Gama and Columbus. The unexpected result of these voyages—the discovery of a new continent—ushered in the wonderful period of Spanish and Portuguese development and their colonization of both the East and the West Indies; and to this epoch belongs the introduction of American pearls to the markets of Europe. The gradual decline of the power of Spain and Portugal—largely owing to bigotry and to the reckless exploitation of the regions under their control—brings us to the beginning of the present phase of commercial intercourse in which all the nations of the civilized world are engaged in varying proportion, according to their power and aptitude. Never before have the different regions of the earth been more closely in touch with each other, and we may safely say that nothing is likely to occur which can permanently interrupt the progressive development of the world’s commerce. With the various means of transportation and locomotion that have existed in the past twenty-three or twenty-four centuries, there is no doubt that the commerce of pearls has varied more or less, but there has ever been, in some part of the world, a great potentate, a great collector or dealer who has influenced the finest gems to gravitate his way. Never has there been a time when some person was not prepared to encourage—and to richly encourage—the sale of fine jewels to him. The history of the commerce of precious stones is a history of travel and exploration, of hardship, pleasure, reward, and sometimes of serious disappointment. The lesson we derive from these decorative objects of natural beauty and softness—treasured alike by savage, barbarian, ancient warrior, statesman, king, emperor, peasant, bourgeois, magyar, lady, and queen—always carries with it the moral that the gifts of creation are ever prized by some one in every age or place. The necessary qualifications affecting the value of a pearl are: first, that it should be perfectly round, pear-shaped, drop-shaped, egg-shaped, or button-shaped, and as even in form as though it were turned on a lathe. It must have a perfectly clear skin, and a decided color or tint, whether white, pink, creamy, gray, brown or black. If white, it must not have a cloud or a blur or haze, nor should the skin have the slightest appearance of being opaque or dead. It must be absolutely free from all cracks, scratches, spots, flaws, indentations, shadowy reflections or blemishes of any kind. It must possess the peculiar luster or orient characteristic of the gem. The skin must be unbroken, and not show any evidence of having been polished.