Note by V.I.Lenin

29/VI.

т. Litvinov!

Please give me your review on the same paper and send it to me archi-secretly.

Your Lenin.

Reply to M.M.Litvinov

Believing that the question addressed to me concerns realization possibilities, I answer:

1) Realization of jewels encounters enormous difficulties. The capacity of the market, given the current economic crisis, is extremely limited. Only a small part of the jewelry handed over to the People's Commissariat has been sold. It is necessary to discount this merchandise from our currency plans.

2) Platinum. With the disappearance of this metal on the world market, the demand has also disappeared. The price is extremely low. In Copenhagen they offered me last year 42 pounds sterling per ounce, now they offer me 15 pounds sterling. It is necessary to wait for the demand to increase and the price to rise.

3) %%1* paper. It is easy to sell Chinese papers, but Alsky unfortunately does not indicate how much is available. They are quoted on the London Stock Exchange at 60-62%, but for our Russian issue we can get up to 50%. For the coupons we get the full value. Since they bring us income (5%, and even 10% at a sale price of 50%), it is more profitable to leave them for the last turn, realizing our dead capital, like gold.

Other %% securities are available to us in negligible quantities.

Conclusion. We should count mainly on the realization of gold, especially foreign gold. Everything else does not count yet.

29/6/21.

M. Litvinov.

Fond 2, op. 2, d. 708 - autographs.

1* "%%" - percentages.

1The notes of V.I.Lenin and M.M.Litvinov are written on the certificate of the Deputy People's Commissar of Finance A.O.Alsky dated June 28, 1921, drawn up on behalf of Lenin, on the amount of the gold and diamond fund allocated to the People's Commissariat for Foreign Trade. The certificate also bears Lenin's notes: "Secerty" and "Gold and Brilliant Fund".