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Stucken, Dr. Rudolf. Die wertbeständigen Anleihen in finanzwirtschaftlicher Betrachtung Schriften des Vereins für Sozialpolitik… veranstaltet von Karl Diehl und Felix Somary. [Stable Value Bonds from a Financial Economy Perspective. Writings of the German Economic Association… organized by Karl Diehl and Felix Somary]. München and Leipzig: Verlag von Duncker & Humblot, 1924. Paper wrappers; 78 pp. Together with an advertisement on the inside back cover for von Mises’s Theorie des Geldes und der Umlaufsmittel together with blurbs in support from Max Weber, Schumpeter, and Benjamin Anderson (whose statement is in English). The publication is part of a series from the German Economic Association (i.e. an ongoing regularly published journal). In German. Very good; paper somewhat brittle; top-edge uncut.
$150
Felix Somary & Bonds
A scarce tract published at the request of Felix Somary and Karl Diehl. Somary (1881-1956) was an Austrian-Swiss banker, infamous for his autobiography The Raven of Zurich. Diehl (1864-1943) was a German professor of Anarchism. Both are listed on the title page as having organized the book’s publication.
The subject is [“value maintenance bonds”] a.k.a. [“stable value bonds”], which the author defines as bonds de-linked from inflation. For example, bonds where the value of payment refers back to another currency, precious metals, or providing a service such as electrical output (on page 8 the author provides his extensive definition). Shortly after hyper-inflation in Germany and Austria (which peaked in 1923) it was critical to regain trust on the international bond market and this publication from 1924 is a how-to guide for economists.
Scarce. At the time of cataloguing, no other copies for sale. A nice addition to a Felix Somary collection and those interested in a deep dive of his post-World War I analysis.
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