Swagger Stick? Walking Stick? Ebony with inlaid glass beads

This item is 24" long and is made of ebony wood. It is created from eight 3" pieces of ebony: The handle is 1 1/4" diameter at the widest, the tip is only 1/4" diameter and has a brass ferrule.  The shaft is made up of six 3" sections of ebony that are joined in pairs, making 3 sections with clear glass rings joining the sections. There are also clear glass rings joining the shaft to the handle and the tip (4 glass rings total).

There are inlaid beads along the entire shaft and one single bead in the top of the handle. These beads are inlaid in diagonal groups of three and in zig zag patterns that cross the seam where two pieces of ebony shaft are joined. 

I believe it is ebony wood because even where the wood is scratched or chipped, it is very dark black. There is one area on the tip that I thought was scuffed, showing the wood underneath. Examining that area with a loupe, it doesn't really look like it was scuffed. It doesn't look like that section is lighter because a finish has been scuffed off. 

Is this a walking stick or cane for a short person or child? Is it a swagger stick? Where might it have been made and when? What might the value be?

It has been suggested that this could have been an umbrella shaft but that seems unlikely as there is no indication of it ever having had a trigger mechanism. Also the ferrule at the tip doesn't make sense if it was an umbrella handle. Others have suggested that it is a swagger stick, possibly trench art. Swagger stick - maybe. But trench art seems unlikely because of the use of the glass rings. They are graduated in size and are precisely fitting between the sections of shaft. How would a soldier in the trenches have created these? The beads might provide some clue. They are opaque glass, some with center holes and some without holes. Most are white but there are also green, red and yellow beads. I am only calling them beads because of the holes in some. 

Fair