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Budapest, March 16, 1912
VII., Erzsébet-körút 54
Dear Professor,
For some time the question of hypochondria has been leaving me no peace.1 I have revised my material and find the source of the evil again and again in anal erotism or its derivatives (desire for coprophagia, smelling); very, very frequently an injury of the money complex becomes a precipitating cause in the following way: loss (expenditure) of money—regression to anal erotism—displacement of interest in the excremental onto other bodily organs and functions (naturally with negative sign). [See the expressions: poor in blood, bleed to death, his heart hurts (when he has to spend money), a saying from the Talmud: “A poor man is like a dead man.” He should suffocate on his money. You can't get your breath (from giving out money) etc.]2
Hypochondria from masturbation likewise originates by way of anal erotism. For example, collecting sperm is identified with collecting money (valuables). Hence, prohibition of masturbation. If the prohibition is transgressed (marital compulsion to coitus), then it comes to regression (anal erotism). Hence the constipation of masturbators. A part of this anal erotic (coprophilic) increase in libido is, however, displaced onto other bodily organs (hypochondria). The choice of organs onto which displacement occurs