Date: 1921-10-24
Source: ru:PSS/v44

NOTE TO G. V. CHICHERIN AND COMMENTS ON THE DRAFT STATEMENT OF THE SOVIET GOVERNMENT CONCERNING THE RECOGNITION OF DEBTS
October 24, Comrade Chicherin! I am sending my amendments and request that you return them with your comments.
No. 1) Our population is not 150 million, but 130, including the Far Eastern Republic.
No. 2) We should not “cede” but rather make a series of concessions.
No. 3) Most importantly: we must articulate our claims against them—both subtly and with precision.
With communist greetings,
Lenin
Draft Statement
According to reports in Western European newspapers, the Brussels Conference of Allied Representatives made the granting of loans to the Russian government for famine relief contingent upon the latter’s acknowledgment of the debts incurred by previous Russian governments. To date, no official communication has been received from the Brussels Conference regarding its decisions. However, faced with the desperate plight of the starving masses, the Russian government refuses to be bound by the niceties of diplomatic etiquette and deems it its solemn duty to immediately state its position on the Brussels resolutions. In his speech delivered on August 16 before the British Parliament, British Prime Minister Mr. Lloyd George denounced as a diabolical scheme the proposal to exploit Russia’s famine in order to compel it to recognize the debts of the Tsarist regime. Nevertheless, the Brussels Conference—fully aware that, given the sheer scale of the famine afflicting Russia, the Soviet government is simply unable, by its own means, to save the suffering population from utter ruin—made the provision of loans to Russia—a condition without which

No. 1: Without serious aid to the starving masses, it is impossible to provide meaningful assistance—conditional upon the Soviet government’s recognition of its pre‑revolutionary debts.
Drawing the attention of working masses across all nations and of all citizens who hold humanitarian concerns dear, the Russian government simultaneously declares that the proposal to acknowledge old debts under certain conditions now aligns with its own fundamental aims. From the very outset of its existence, the Soviet government had made economic cooperation with other powers one of the central objectives of its policy. It consistently affirmed its willingness to grant ample returns to foreign capitalists who would assist in the development of Russia’s natural resources and in the restoration of its economic infrastructure. Today, it observes that official statements issued both by the President of the United States and by British ministers repeatedly underscore the fact that, three years after the end of the Great War, true peace remains elusive; the needs of the popular masses grow ever more acute, national debts continue to swell, and devastation spreads unchecked.
It is perfectly clear that one cannot hope to establish lasting peace without Russia—and its 150‑million‑strong population; that one cannot overcome the ravages of war while leaving ruins scattered across the land; and that the question of relations between Russia and the rest of the world—a question of paramount global significance—cannot be resolved without reaching an agreement with the Soviet government. From the standpoint of the long‑term interests and enduring needs of all states and all peoples, the economic recovery of Russia is not only a vital necessity for Russia itself, but for the entire world. Without economic engagement with other countries, the task of Russia’s economic revival becomes exceedingly difficult, and its successful completion will inevitably stretch over a far longer period.
The workers’ and peasants’ government is uniquely positioned to fulfill this task. The self‑interested pursuits of individual capitalist groups do not impede its efforts to restore the national economy. The interests of the broadest popular masses—interests that, in essence, represent the interests of society as a whole—directly guide the workers’ and peasants’ power. With the goal of satisfying the interests of all working people in Russia, the workers’ and peasants’ government—having emerged victorious from the unprecedented trials of the Civil War—now opens the door for private initiative and capital to collaborate with the power of workers and peasants in the exploitation of Russia’s natural wealth. The Soviet government has restored private trade, private ownership of small enterprises, and the right to concessions and leases for large-scale projects.
Soviet power offers foreign capital a sufficient share of profits to satisfy its interests, thereby attracting it to participate in Russia’s economic endeavors.

COMMENTS ON THE DRAFT STATEMENT OF THE SOVIET GOVERNMENT
Following this path, the Soviet government seeks economic agreements with all nations—and ultimately, the conclusion of a final peace between Russia and the other states. While pursuing this goal, the Soviet authorities encounter, from the other powers, the demand for recognition of the Tsarist government’s pre‑revolutionary debts.
The Soviet government asserts that, in its firm conviction, no people ought to bear the cost of chains they themselves have worn for centuries. Yet, in its unwavering determination to reach a comprehensive agreement with the other powers, the Russian government is prepared to make concessions on this crucial issue. In doing so, it also accommodates the desires of numerous small holders of Russian state bonds—especially those in France, for whom the recognition of Tsarist debts represents a matter of significant importance. Based on these considerations, the Russian government declares that it is ready to assume obligations toward other states and their citizens arising from state loans contracted by the Tsarist government prior to 1914, provided that it is granted favorable terms that ensure the practical feasibility of fulfilling these obligations.
Naturally, a prerequisite for such recognition is the simultaneous commitment of the great powers to unconditionally bring to an end any actions that threaten the security of the Soviet republics or the inviolability of their borders. In other words, the Soviet republic can assume these obligations only if the great powers conclude a final, universal peace with it—and if its government is recognized by the other powers.
To this end, the Russian government proposes the swift convening of an international conference tasked with addressing the aforementioned objectives, examining the mutual demands of the other powers and the Soviet government, and crafting a definitive peace treaty between them. Only after the convening of such a conference can universal peace be achieved. The Washington Conference, however, will by no means bring about such peace;
No. 2: Make a series of substantial concessions.
No. 3: Mutual claims against each other and against the other powers—

whose resolutions will not be recognized by the Russian Republic, which was not invited to participate in that conference.
As the fourth anniversary of the Soviet government approaches in just a few days, all must acknowledge that the relentless efforts of numerous external and internal adversaries have only served to strengthen the workers’ and peasants’ power in Russia—as the true defender and representative of the interests of Russia’s working masses and of its independence. New interventionist schemes directed against Soviet Russia—schemes that are increasingly evident in the numerous pronouncements of the leading press organs of the Entente powers—will further cement the indissoluble bond between Russia’s working masses and the workers’ and peasants’ power that embodies their will. Yet attempts to carry out these schemes may only deepen the suffering of the working masses and delay the moment of Russia’s ultimate economic recovery—thereby dealing a blow also to the economic interests of all other peoples.
The proposal put forward by the Russian government stands as the best testament to its aspiration for peace with all nations and for the establishment of economic relations with them that are free from interference. The implementation of this proposal serves the interests of all states and peoples.
The Russian government expresses its firm hope that, as a result of this proposal, a final settlement of economic and political relations between Russia and the other states will be reached in the near future.
Written October 24, 1921.
First published in 1945 in Lenin’s Collected Works, Volume XXXV.
Printed: the note and comments
by V. I. Lenin—based on the manuscript; the draft statement—based on the typewritten copy.