ADDITIONS AND AMENDMENTS TO THE DRAFT RESOLUTION OF THE FINANCIAL COMMISSION OF THE CENTRAL COMMITTEE OF THE RCP(b) AND THE COUNCIL OF PEOPLE'S COMMISSARS

Source: LS/v36

[April 14, 1921]

Resolution of Comrade Preobrazhensky's Commission on the Question
of the Reform of Paper Money Circulation
1. Approve the denomination at a ratio of 1:1000.
2. Establish a simultaneous start of the reform everywhere, a definite
period for exchange, varying in duration for different regions.
3. The exact
date of announcement of the denomination to be established
later.
4. Recognize that from the moment of denomination, the sale of goods by the state
must be carried out only for new money.
5. As samples of the new currency notes, approve the samples presented
by Comrade
Enukidze, bearing the name "republican credit," instructing Comrade Enukidze by 15/X 21 to submit no less than 5 billion
in the smallest possible denominations.
6. Assign the new currency notes the name "state
currency note."
7. The words "counterfeiting is punishable by law" on the new currency
notes shall be retained.
8. Inscriptions in foreign languages — to be removed.
9. The indication that the money is issued by the RSFSR shall be retained only
in the state emblem.
10. The new currency notes to be issued with the signature of the Chairman of the Council
of People's Commissars and the People's Commissar of Finance *.
11. Instruct Comrade Preobrazhensky to inform newspaper editorial boards about
the undesirability of publishing information about the upcoming monetary
reform.
11. + The Commission to be retained for systematic study
(through the Central Statistical Directorate)
1) of price movements
2) of the state's commodity fund
3) of commodity circulation in the city and in the countryside
and other issues related to monetary reform.

Draft resolution with changes and additions introduced