By far the most important of these new regions is the Mississippi Valley in America, the pearl resources of which were made known about a score of years ago. As the exploitation developed, the gems from these streams added very largely to the supply, especially of the baroque or irregular pearls, which have increased greatly in fashion in the last ten years. [Illustration] LADY ABINGER MRS. ADAIR LADY WIMBORNE HON. MRS. RENARD GRÉVILLE MARCHIONESS OF LANSDOWNE LADY LONDONDERRY BARONESS DE FOREST Notwithstanding the popular idea that pearls are scarce owing to depletion of the fisheries, they are doubtless produced in greater quantities at present than ever before in the history of the world. True, they were more plentiful in Rome after the Persian conquest, and in Spain immediately following the exploitation of tropical America; but it is highly probable that in no equal period have the entire fisheries of the world yielded greater quantities than in the five years from 1903 to 1907 inclusive. Certain individual fisheries are now less productive than at the height of their prosperity; those in the Red Sea do not compare favorably with their condition in ancient times, the European resources are nearly exhausted, the supplies from the Venezuelan coast do not equal those obtained early in the sixteenth century, the yield from Mexico is not so extensive as twenty-five years ago, and the same is true of some other regions. On the other hand, the great fisheries of Persia and Ceylon are yet very prosperous, the Ceylon fishery of 1905 surpassing all records, and the number of minor pearling regions has largely increased. The present value of pearls—which has advanced enormously since 1893—is due to the extended markets and the increased wealth and fashion in Western countries, rather than to diminished fisheries. The oriental demand still consumes the bulk of the Persian and Indian output, and the vast increase in wealth among the middle classes in America, Europe, and elsewhere, has increased the demand tenfold over that of a century ago. While women no longer appear ornamented from head to foot as in the sixteenth century, pearls are in the highest fashion, and the woman of rank and wealth usually prizes first among her jewels her necklace of pearls. III ORIGIN OF PEARLS III ORIGIN OF PEARLS Heaven-born and cradled in the deep blue sea, it is the purest of gems and the most precious. S. M. ZWEMER.