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4. E.A. Preobrazhensky’s Book Paper Money in the Epoch of Proletarian Dictatorship, 1920

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Chapter Summary

The question of our paper-money and its fate, as with the general question of money-circulation during the transition-period, is one of both theoretical and also enormous practical interest. In the completely new situation of a socialist economy, the problem of the withering away of paper-money circulation must be of interest to an economist. It is important for the average person to know the fate of the paper-currency he has in hand. The proletarian state must consider how long it can make use of paper-emissions together with natural taxes. The trade-unions have to know how to agree on wage-tariffs in conditions of a rapid fall in the exchange-value of the paper-currency. This chapter addresses the theme of paper-money in the period of proletarian dictatorship.

Keywords:exchange-value; paper money; proletarian dictatorship; Russian Soviet; socialist production; taxation

10.1163/9789004245228_054
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