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.