Lenin's Speech at the First Session of the Second Congress of the Third International at the Uritsky Palace in Petrograd, July 19th., 1920.
Comrades,
The theses and questions of the basic problems of the Communist International are published in all languages, and for the Russian comrades they present nothing substantially new, for they chiefly apply, some basic features of our revolutionary experience and the lessons of our revolutionary movement to a whole series of Western countries, to Western Europe. Therefore I shall dwell in my report somewhat more fully, though in brief outline, on the first_ part of my subject, namely, the international situation.
The basis of the entire international situation as we find it at present is in the economic relations of imperialism. Since the beginning of the twentieth century this new stage of capitalism, the most highly developed and last stage, has become quite clear. You, of course, all, know that the fact that capital has attained gigantic proportions constitutes the most characteristic and substantial feature of Imperialism. The place of free competition is taken by monopoly of stupendous proportions, A mere handful of capitalists could formerly concentrate in their hands entire branches of industry; these branches have passed into the hands of capitalist corporations, cartels, syndicates, trusts, which sometimes assumed an international character. Thus with regard to finance, to rights of property, and partly to production, entire branches of industry, not only in seperate countries but throughout the world, were captured by monopoly. Upon this basis there developed a domination of a handful of the biggest banks, financial kings, financial magnates, a domination such as never was seen be-
