- The monopolisation of all banking business in the hands of the Soviet State.
- The radical transformation and simplification of banking operations, so that the whole banking system shall become an apparatus for the unified book-keeping of the Soviet Republic. In proportion as the organisation of a purposive social economy is achieved, this will lead to the disappearance of banks, and to their conversion into the central book-keeping establishment of communist society.
In the opening stage of the transition from capitalism to communism, and prior to the organisation of a fully developed system for the communist production and distribution of goods, the abolition of money is impossible. In these circumstances, the bourgeois elements of the population continue to use for speculation, profit-making, and the plundering of the workers, the monetary tokens that still remain in private ownership. Upon the basis of the nationalisation of banking, the Russian Communist Party endeavours to promote a series of measures favouring a moneyless system of account keeping, and paving the way for the abolition of money. These are: the compulsory deposit of money in the People’s Bank; the introduction of budget-books; the replacement of money by written or printed tokens, by tickets giving the right to the receipt of goods but available for short periods only ; etc.[§120-121.]
FINANCE.
During the epoch in which the socialisation of the means of production confiscated from the capitalists has begun the State Power ceases to be a