The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-04-18

render the co-operativos an effective
weapon for elimination Of private
trade capital Estate subsidies to CO.
operatives, in particular, to the work
ers' co-operatives; transference of
the co-operatives to the principle of
voluntary membership; the. greatest
attention must be devoted to enlarg-
ing the network Of cooperative organ
izations and to strengthening the low
est cooperative nuclei; the realiza-
ton Of their right to enter into imme-
date commercial relations with the
state industry; drastic reduction of
additional expenses; greatest possible
reduction of intermediary channels,
thru which the goods are passed on
to the consumer, and the like).
Along with this, in order to render
subordinate the activity Of private
capital to the general economic policy
Of the Soviet power number of fur
Their measures must be adopted for
regulating the prices Of the principal
articles Of mass consumption. On the
other hand the control over accumu-
lation on the part of private capital
must be reached by measures of tax.
alton. There must be drastic tax.
alton Of luxuries and an intensified.
ton of the struggle against predatory
spectators.
The Party has resolutely abandoned
the policy Of grain requisition and the
system Of rationing the food supply to
the working population. BY allowing
the peasants freely to dispose Of the
results of their labor, the Party has
thereby permitted to certain degree
the participation of private capital in
the exchange of goods and has no
reason for abandoning this policy
But the Party must Systematically
work for strengthening its position in
this sphere also, by tenacious and
unwearied struggle for the complete
domination Of the peasant mass mar
ket.
VII. Financial Policy.
An extraordinarily important gain
for the realization Of the principal
tasks Of our economic policy, was OBJ
tanned in the last year by the intro
ducing stable valuta-of the cher.
vonetz, and by making it the funda,
mental valuta of the country (out OF
$50 millions representing the total
amount of money in circulation in the
country, the chervonetz already com
prises 27O millions, i. e. about four
fifths).
The introduction of the chervonet7
and it's maintenance as a stable valuta
were only possible as a result Of the
progressive increase of our entire
economy and prove the correctness
of our policy of economic reconstruc
ton.
The circulation Of the chervonetz
forms, at the present time, one Of
the most essential aids for the devel
opment of our economy. The growth
of the state industry mentioned above
during the last year would not have
been possible without the chervon
etz. On the basis of the circulation
of the chervonetz, credits have been
and are being granted to trade, in
dustry and agriculture. The granting
Of bank credits to industry and trade
has reached a considerable degree OF
development. These credits have
formed fund for conducting opera
tions, without which the systematic
development of industry and of the
entire national economy would be i'm
possible. Basing itself on these cred
its, industry has for the first time
been able to develop its production
without any set-backs, and was also
able to accumulate considerable
stocks Of goods in anticipation. Of the
harvest.
Production Efficiency.
The strict accounting, the correct
calculation of the cost Of production
and the introduction Of proper sys
tenn Of bookkeeping in our factories
and works, trusts, syndicates and
trade organizations, have only become
possible, thanks to the stability OF
the chervonetz, and their perpetua
ton and improvement in the future
will only be possible by its help.
The further policy of our Party
must consist of preserving the stabi
lily of the chervonetz, and of perfect
ing the currency reform. The inter.
ests of the broad masses demand the
perfecting of the currency reform, i. O.
the substitution Of stable valuta for
the sinking Soviet notes. The per.
fecting of the currency reform must
become one of the principal tasks
of the Soviet power in the next period
The successful accomplishment OF
this task implies an improvement in
the position of the peasant economy,
raising OF the material position of
the working class, and OF the working
strata Of the population in general,
and the recovery OF our economy as
a whole.
The successful carrying out OF the
currency reform, is only possible by