**I propose: in principle to approve and entrust the People's Commissariat of Foreign Trade to continue negotiations on the condition, however, that (1) no final decision be made without the Politburo (which must retain for itself the freedom to refuse); (2) that an attempt be made to conclude a similar loan on better terms with another (Italian) proposer.**

Source: PSS vol. 54

13/III. Lenin*

* The draft was also signed by L. B. Kamenev and I. V. Stalin; L. D. Trotsky abstained. — Ed.

Written 13 March 1922

Published for the first time, from the manuscript