Der Staat als Kaufmann. 1927.
Pen and India ink drawing over pencil, white-heightened with gouache.
With the artist's monogram in lower right. Margins with crop marks in India ink, and inscribed in lower margin. Numbered "124" with a stamp on verso, as well as numbered in pencil. On wove paper. 31.4 x 27.3 cm (12.3 x 10.7 in), size of sheet.
Original draft for the cover of "Simplicissimus“, year 32, issue 7, May 1927.

We are grateful to Prof. Dr. Thomas Raff for his kind support in cataloging this lot.

PROVENANCE: Private collection Northern Germany.