"AT ONCE A DEFENSE AND A CRITICAL STUDY": FIRST EDITION OF THE NEW YORK STOCK EXCHANGE, 1932/33, BY ITS LONGTIME PRESIDENT, HENRY G.S. NOBLE
NOBLE, Henry G.S. The Stock Exchange: Its Economic Function. New York and London: Harper & Brothers, 1933 [i.e. December 1932]. Octavo, original blue paper boards, mounted cover and spine labels, original dust jacket. $950.
First edition of this timely work by longtime President of the New York Stock Exchange, H.G.S. Noble—"an authoritative voice"—scarce in original dust jacket.
Henry G.S. Noble was "president of the New York Stock Exchange throughout WWI and a member for 56 years… He served five consecutive terms as president, until May 1919, and it was under his direction that the Exchange was closed on July 31, 1914." In The Stock Exchange, Noble offers "at once a defense and a critical study of the New York Stock Exchange. As one of the elders of that institution… his may be said to be an authoritative voice." A contemporary reviewer notes that in this thorough assessment of the institution Noble directed for so long, he "rejects vigorously the suggestion that legislative regulation be applied… 'with every succeeding period of economic strain and bad times,' says Noble, 'there comes, with the regularity of clock-work, the suggestion that the Stock Exchange be subjected to regulation by the government'" (New York Times). Noble offers a well-informed perspective on the history of the Stock Exchange, the practice of short selling, the economic Depression, and perilous global politics at a time when Europe, in his words, seems "bent on self-destruction." Copyright page with "First Edition" and publisher's code "M-G" indicating publication in December 1932.
Book with tiny spot to front board and mild rubbing and toning to extremities. Scarce dust jacket with stray mark to spine, faint tape offsetting to front panel, chip to head of spine, toning to front panel and spine, and tape repairs to verso. An extremely good copy.