"IN MARCH, 1933, THE UNITED STATES EXPERIENCED THE MOST VIOLENT FINANCIAL DEBACLE IN MODERN HISTORY…"

SULLIVAN, Lawrence. Prelude to Panic. The Story of the Bank Holiday. Washington: Statesman Press, (1936). Octavo, original black cloth. $850.

First edition of this analysis of what drove the United States into a catastrophic economic depression in 1933 following a period of recovery during 1932. The file copy of the author, noted political and economic commentator Lawrence Sullivan, with his rubber-stamped owner signature.

Here, Hoover's close friend, noted political and economic commentator Lawrence Sullivan, attempts to work out the factors that lead to the Great Depression. He examines the world economic recovery that began in the summer of 1932, reveals that all was not well, and explains how the American economy managed to collapse just a few months later. By looking at issues of politics, economics, and weakness in the union, Sullivan shows how America was not recovering—how it was merely waiting to collapse. Without rare dust jacket. The file copy of Lawrence Sullivan with his owner stamp. A few pen underlines and marginal markings. With publisher's prospectus laid in. With mimeographed piece mentioning this work laid in. With clipped review laid in.

Slight darkening to text, inner paper hinge archivally strengthened, only slightest rubbing to cloth. A near-fine author's copy.