Beard and Freud have important formal and logical similarities in their theories, although Freud did not seem to have been influenced by Beard. Central mechanisms of both theories are similar: Freud's neurasthenics were drained of somatic sexual excitement, Beard's of nerve force. They differ in the evaluation of causal factors, especially in the role of sexuality. The inadequacies of both theories are examined and criticized from clinical and methodological points of view.