V. I.

Lenin

90

To:   MEMBERS OF THE POLITBUREAU OF THE R.C.P.(B.) CENTRAL COMMITTEE

I propose : to approve in principle and authorise the
P.C.F.T. to continue negotiations [1] 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 .

Lenin 13/III.

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Notes:
[1]
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.