Written: Written on March 13, 1921
Published: First published in 1965 in Collected Works, Fifth (Russian) Ed., Vol. 52. Printed from the original.
Source: Lenin Collected Works, Progress Publishers, 1976, Moscow, Volume 45, page 97b.
Translated: Yuri Sdobnikov
Transcription\Markup: R. Cymbala
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I propose: to approve in principle and authorise the P.C.F.T. to continue negotiations with the proviso, however, that (1) no final decision is taken without the Politbureau (which must remain free to make a rejection); and that (2) an effort is made to secure a similar loan on better terms with the other (Italian) offerer.
 A reference to the negotiations by the People’s Commissariat for Foreign Trade on a 40–year 100–million kronen loan from Sweden. The Swedish side wanted 7 per cent during the first two years and 6 per cent during the rest of the period, until the repayment of the loan. Negotiations on large credits from Sweden were also conducted in the autumn of 1921, but were fruitless.