Business: Diamonds and Joy

With Cecil Rhodes looking on approvingly from a portrait on the wall, Sir Ernest Oppenheimer, cool, cultivated chairman of De Beers Consolidated Mines, Ltd., reported on the state of the world's diamond-mining industry one day last week in the company's famed board room in Kimberley, South Africa. Occasion was the 49th annual meeting of the company which, for all practical purposes, is the world's diamond industry. Founded by the young imperialist who established the Rhodes Scholarship Trust, originally chartered with powers not only to engage in commercial exploitation but also to raise armies...

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