1) a worker will receive 25,000 r. = 1/4 ruble!!

2) gold will have a disproportionate value.

But at 10,000?

1) a worker will receive 25,000 r. = 2 1/2 rubles,
members of the All-Russian Central Executive Committee receive 27,000 = 2 rubles 70 kopecks per month,

2) gold?

Does not the essence of your argument boil down to this: that we must preserve yet another possibility for a further "retreat," when we equate paper money to gold (in a year, two years, etc.) only after the ruble's exchange rate has stabilized?

But now
a) emission is necessary
b) 1:10,000 = a cautious trial, a "feeling out of the ground."

3

1) It turned out with Semyon Enukidze:
approximately the same quantity of paper (13 and 12 thousand poods) gives
4 1/2 thousand billion old rubles, whereas new ones 457 million, i.e., likewise 4 1/2
thousand billion old.

Is that so?

And what came of it?

2) Would it not be more advantageous to issue poor quality paper, so that the money being put into circulation would liquidate itself more quickly?

Written before November 3, 1921

First published in 1959 in Lenin Collection XXXVI

Printed from the manuscript