This reform constitutes the greatest revolutionary departure, in strict accordance with the instructions contained in the party program. Prior to the completion of this reform, the old pre-revolutionary principle continued to prevail—that of opposition of the State Treasury to the State Bank, which was independent financially, having its own means, operating at the expense of its capital stock, and acting as a depository for the funds of the State Treasury and as its creditor. Insofar as the new scheme of our financial life has been realized, this dualism, has finally disappeared in the process of realization of the reform. The Bank has now actually become the only budget-auditing savings account machinery of the Russian Socialist Federal Soviet Republic. At the present moment it is serving all the departments of the state administration, in the sense that it meets all the government expenditures and receives all the state revenue. It takes care of all accounting between the governmental institutions, on the one hand, and the private establishments and individuals on the other. Through the hands of the People’s Bank pass all the budgets of all institutions and enterprises, even the state budget itself; in it is concentrated the central bookkeeping which is to unify all the operations and to give a general picture of the national economic balance. Thus, we may consider that the fundamental work, i.e., "the monopolization of the entire banking business in the hands of the Soviet Government, the radical alteration and the simplification of banking operations by means of converting the banking apparatus into an apparatus for uniform accounting and general bookkeeping of the Soviet Republic"—has been accomplished by the Commissariat of Finance. IV As regards the carrying into practice of a number of measures intended to widen the sphere of accounting without the aid of money, the Commissariat of Finance has, during the period above referred to, undertaken some steps insofar as this was possible under the circumstances. As long as the state did not overcome the shortage of manufactured articles, caused by the general dislocation of industrial life, and as long as it could arrange for a moneyless direct exchange of commodities with the villages, nothing else remains for it than to take, insofar as possible, all possible steps to reduce the instances where money is used as a medium of exchange. Through an increase of moneyless operations between the departments, and between the government and individuals, economically dependent upon it, the ground is prepared for the abolition of money.