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2 in mind that this expression is used conventionally. By it we mean to say that our output has reached the pre-war level, that the material basis of production has been restored to pre-war dimensions. Only in this sense can we speak of the process of restoration; only in this way can we speak of the transition from the period of restoration to the period of building up.

Thus, beyond a doubt there now arises before us in all its breadth the task of the reconstruction of our economy, the task of transferring it to a new technical basis.

This depends primarily upon our success in acquiring and applying capital, resources to be employed for the expansion of the basis of production, for the construction or the laying down of new enterprises, to a considerable extent upon a new technical basis. It is not hard to realise that this is a task of the greatest difficulty, and the difficulty does not lie merely in the sphere of practice. No, even taken in its theoretical aspect it represents a "hard nut to crack." The difficulty of the task gives rise to wavering in our ranks. It compels us to take up again the fundamental questions of the revolution.

It will not be superfluous to mention that the question of basic capital was raised before, comparatively a long time ago (for example the question of electrification raised by Lenin); and it has been raised before by certain of our opponents. In this connection one may mention a work by P. P. Maslov, namely the book he published in 1918 entitled "A Summary of the War and Revolution." Maslov at that time stood entirely on the Menshevik position and in the book referred to he advocated the Menshevik point of view. Of course, he denied the possibility of a Socialist revolution in Russia