Written: Written March 13, 1922
Published: First published in 1965 in the Fifth Russian Edition of the Collected Works, Vol. 54. Printed from the manuscript.
Source: Lenin Collected Works, Progress Publishers, 1971, Moscow, Volume 42, pages 405b-406a.
Translated: Bernard Isaacs
Transcription\Markup: R. Cymbala and D. Walters
Public Domain: Lenin Internet Archive (2004). You may freely copy, distribute, display and perform this work; as well as make derivative and commercial works. Please credit “Marxists Internet Archive” as your source.
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I move: that in principle it be approved and that the Foreign Trade Commissariat be directed to continue negotiations on the understanding, however, that (1) no final decision is made without the Politbureau (which should retain the right of refusal); (2) an attempt is made to contract a similar loan on better terms with another (Italian) offerer.
 The draft was signed also by Kamenev and Stalin; Trotsky abstained.—Ed.
 Negotiations for a loan were being conducted with the Swedish Government and Swedish business circles by representatives of Soviet Russia since the autumn of 1921. Lenin wrote his proposal after reading the terms of the loan and the views of the People’s Commissariat for Foreign Trade and of the People’s Commissar for Finance N. N. Krestinsky on the matter.