V. I.   Lenin


To:   L. B. KRASIN[1]

Written: Written on July 28, 1921
Published: First published in 1959 in Lenin Miscellany XXXVI. Printed from the original.
Source: Lenin Collected Works, Progress Publishers, 1976, Moscow, Volume 45, page 233a.
Translated: Yuri Sdobnikov
Transcription\Markup: R. Cymbala
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(to be returned)


My opinion is:

Set up a small commission to work out the plan in detail. Approve in substance. Ascertain more precisely the amount of the loan, the dates and the terms of repayment in raw materials and timber (first year, in our gold: 30 million rubles in gold; we could make it two years at 30 million rubles in gold). Ten per cent a year with repayment? Isn’t that too much?





[1] This was written on L. B. Krasin’s letter of July 27, 1921, reporting on the terms of an agreement with the British shipbuilding companies, who were prepared to grant Soviet Russia a longterm credit for the building of ships for the Black Sea, Caspian and the Volga merchant fleet and the Mariinsk Waterway. In this connection, Krasin proposed that these companies or the British Government extend an additional credit to cover the purchase of equipment, and suggested that a plan should be worked out to use credit for the rehabilitation of the national economy.

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