With a bang, not a whimper: Pricking Germany's "stock market bubble" in 1927 and the slide into depression

In May 1927, the German central bank intervenedindirectly to reduce lending to equity investors.The crash that followed ended the only stockmarket boom during Germany s relative stabilization 1924-28. This paper examines thefactors that lead to the intervention as well asits consequences. We argue that genuine concernabout the exuberant level of the stock market,in addition to worries about an inflow offoreign funds, tipped the scales in favour ofintervention. The evidence strongly suggeststhat the German central bank under HjalmarSchacht was wrong to be concerned aboutstockprices-there was no bubble. Also, theReichsbank was mistaken in its belief thata fall in the market would reduce theimportance of short-term foreign borrowing,and help to ease conditions in the money market.The misguided intervention had important realeffects. Investment suffered, helping to tipGermany into depression.

Textos y Documentos: La Universidad de Barcelona en 1872

La inaguración del curso académico 1872-73 tuvo lugar por primera vez en el edificio entonces construido para albergar la Universidad de Barcelona y que hoy continúa constituyendo su centro principal [. . .]

Ciència catalana a Madrid: el discurs de Jesús M. Bellido Golferichs a la Biblioteca Nacional (1927)

We analyze Dr. Bellido"s discourse at the Spanish National Library in Madrid (1927) in the framework of what has been called Medical Catalanism. Further development of this case study will provide a better understanding of Catalan as a scientific language, the importance of the role played by Catalan publishing industry and the cultural and political relationship between Madrid and Barcelona.

Ciència catalana a Madrid: el discurs de Jesús M. Bellido Golferichs a la Biblioteca Nacional (1927)

We analyze Dr. Bellido"s discourse at the Spanish National Library in Madrid (1927) in the framework of what has been called Medical Catalanism. Further development of this case study will provide a better understanding of Catalan as a scientific language, the importance of the role played by Catalan publishing industry and the cultural and political relationship between Madrid and Barcelona.

La Crónica Argentina de Ricardo Monner Sans en la Revista Comercial Ibero-Americana MERCURIO (1903-1927)

[esp]Se describe el accionar del literato catalán Ricardo Monner Sans, establecido en Buenos Aires en la última década del siglo XIX, que entre 1903 y 1927 contribuyó mensualmente su"Crónica Argentina" a la Revista Comercial Ibero-Americana MERCURIO de Barcelona. Los temas principales abordados en este artículo tratan las impresiones de Monner Sans acerca de las posibilidades económicas y mercantiles entre el país receptor y Cataluña, en especial a partir de la Primera Guerra Mundial.