Telegram to L.M. Kaganovich, V.M. Molotov, June 21, 1932

Source: Tom 17

For Kaganovich, Molotov.

I have read the record of the conversation with Lancaster. In my opinion, we should endeavor to transform the credit that Lancaster considers a credit for servicing our orders in America into what would effectively be a loan, maximally free of obligations. In connection with this, it should be stated to Lancaster that upon receiving 50 million dollars for 8 years at 7 percent annually plus 5 percent additional, we could use for orders in America a maximum of 5-7 percent of the credit amount. This, of course, will not please him. But then it should be stated to him that we could use 15-20 percent of the credit amount for orders in America if we receive 100 million dollars for a term of 10 years and with a mandatory reduction of the additional percentage from five to three. On this we must stand firm and see how Lancaster reacts. It is now clear that Lancaster's main concern is the size of orders in America. That is the point at which we must press him.

Stalin.

Source: Stalin i Kaganovich. Perepiska. 1931-1936 gg. [Stalin and Kaganovich. Correspondence. 1931-1936], p. 185.

RGASPI, f. 81, op. 3, d. 99, ll. 69-70.