A transcript of a speech held by Joseph Stalin on the occasion of the completion of the first five-year plan of the Soviet Union. The speech includes a comprehensive review of the successes and failures of the first five-year plan, which was characterized by rapid industrialization and collectivization.

The first five-year plan was Stalin's revolutionary attempt to transform the Soviet Union from an agricultural society into a modern industrial state within five years. The plan was partially achieved, but at a heavy price of mass starvation and death among the population, and widespread political repression and persecution.