glad to buy and distribute German goods. Brown recommended, that nations, which would re-establish the trade with Germany, should give parts of their currency to the International Bank for loaning this money to German industrialists. They could pay their loans back by export to these nations. Freedom should as well be given to two- or tripartite barter arrangements. The primitive method of barter can quickly bring about an exchange of goods in absence of foreign currency. Germany could pay for the raw materials, not in currency, but in workmanship in finished product. German goods were desired by Sweden and Italy, but the exchange of products, that both countries needed, was prohibited by the then existing regulations. Central Government, Central Bank, New Currency Part of a plan for recovery in Germany is the establishment of a central provisional government. The government should have a demonstrated capacity to balance its income and outgo. Since in 1947 the Germans are not yet ready for holding an election for a parliament, the provisional government should be composed of the members of the Länderrat. These were the democratically responsible minister presidents of the several states, which have been established in each of the four zones. The Military Government should have a veto power against the selections of the Länderrat. Concurrently with a provisional central government should be established a strong central bank for issuing a new currency. Its branch banks should be operated under a strong unified policy and by experienced central bankers. A banking system for Germany patterned after the Federal Reserve System of America would be fallacious and would not provide a central bank that will accomplish what it must do in Western Germany. European bankers have had several centuries’ experience in running central banks and are thoroughly skilled in the central banking theory on the European pattern. A new currency should be issued with new plates for printing, so that the Russian printed currency cannot flow westward into Germany any more. Before issuing the new bank notes every effort should be made, to stimulate the production of consumer goods, so that the Germans could buy something with the new currency. A great barter market and a black market would be a great threat to the continued stability of the currency. Effects and legacy The recommendations were gradually put into practice. In a Revised Plan for Level of Industry in the Anglo-American Zones