Telegram to L.M. Kaganovich, August 25, 1931

Source: Tom 17

Kaganovich.

First. In view of foreign currency difficulties and the unacceptable credit terms in America, I speak against any new orders whatsoever for America. I propose to prohibit the placing of new orders for America, to break off all negotiations already begun regarding new orders, and where possible to terminate already concluded contracts for old orders, transferring orders to Europe or to our own factories. I propose that no exceptions to this rule be made for Magnitogorsk and Kuznetskstroi, or for Kharkovstroi, Dneprostroi, AMO, or Avtostoi. I propose to rescind all previous Politburo decisions that contradict this decision.

Second. I have no objection to the agreement with the Belgians on warrant credit.

Third. With the Chinese Eastern Railway, we can wait.

Stalin

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Source: Stalin and Kaganovich: Correspondence, 1931-1936, p. 64.

RGASPI. F. 558. Op. 11. D. 76. L. 33, 34.

Note: Warrant credit (from the English "warrant" -- guarantee, confirmation) -- credit issued by banks under the guarantee of government agencies.