Dictated: Dictated on January 4, 1922
Published: First published in 1959 in Lenin Miscellany XXXVI. Printed from a typewritten copy.
Source: Lenin Collected Works, Progress Publishers, 1976, Moscow, Volume 45, page 427a.
Translated: Yuri Sdobnikov
Transcription\Markup: R. Cymbala
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Comrade Preobrazhensky told me by phone that he would resign if Krasnoshchekov is appointed second deputy, and that is also the opinion of the whole Collegium with the exception, it seems, of Sokolnikov. Stalin believes that the decision should he confirmed but its execution held up until Sokolnikov’s return otherwise Krasnoshchekov may he badly badgered. I think that this danger will remain, unless the Politbureau comes out at once with full force against the Collegium, and unless it backs up and supports Krasnoshchekov to the hilt. I consider this question extremely important because a crying mistake is being made not only by the whole collegium, but also by Preobrazhensky, who are unable to see the need for making all-round use of a man who, with solid experience of work in America and in the Far-Eastern Republic, takes a practical approach to financial matters. That is the most important thing. That is precisely what Preobrazhensky and the other members of the collegium lack. Their whole opposition to Krasnoshchekov is a tissue of harmful prejudices. That is why I should favour immediate passage of the decision on Krasnoshchekov through Soviet channels.
 On December 31, 1921, the Politbureau of the R.C.P.(B.) C.C. decided to appoint A. M. Krasnoshchekov Second Deputy People’s Commissar for Finance. On January 10, 1922, the C.P.C. confirmed him in this office.