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A comprehensive review of the precious-stone industry and important gemological developments during 1901, which Kunz describes as the most successful year yet in the history of the American trade. U.S. production was valued at $289,060, led by Montana sapphires, turquoise, rhodolite garnet, tourmaline, quartz, and other ornamental stones, while imports of diamonds and other precious stones reached about $22.8 million. Notable developments included a diamond from Lee County, Georgia; expanding sapphire mining at Yogo, Montana; an output of about 200,000 carats of rhodolite from Cowee Valley, North Carolina; colored tourmalines at Mesa Grande, California; chrysoprase near Visalia; new turquoise deposits in Colorado and Nevada and continued major production in New Mexico; large epidote crystals from Alaska; and a jade-like compact idocrase from California. Kunz gives detailed accounts of South African, Guianan, and Bornean diamond mining, Montana sapphire geology and recovery, American corundum deposits, the improving fortunes of the Burma Ruby Mines Company, emerald and beryl occurrences, garnet, quartz varieties, opal, turquoise, apatite, and other gem materials. He also discusses contemporary gem cutting and jewelry fashions and comments extensively on Chinese jade objects reaching Western markets following the looting associated with recent conflicts in China. The report concludes with statistical tables of U.S. precious-stone production from 1896–1901 and imports from 1867–1901.