Dawes plan

Dawes plan
a plan to ensure payments of reparations by Germany after World War I, devised by an international committee headed by Charles Gates Dawes and put into effect in 1924. Cf. Young plan.

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(1924) Arrangement for Germany's payment of reparations to the Allies after World War I, produced by a committee of experts presided over by Charles Dawes.

The total amount of reparations was not determined, but payments were to begin at 1 billion gold marks in the first year and rise to 2.5 billion by 1928. The plan, which also provided for the reorganization of the Reichsbank and for an initial foreign loan of 800 million marks to Germany, was later replaced by the more lenient Young Plan.

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▪ German-United States history
      arrangement for Germany's payment of reparations after World War I. On the initiative of the British and U.S. governments, a committee of experts, presided over by an American financier, Charles G. Dawes, produced a report on the question of German reparations for presumed liability for World War I. The report was accepted by the Allies and by Germany on Aug. 16, 1924. No attempt was made to determine the total amount of reparations to be paid, but payments were to begin at 1,000,000,000 gold marks in the first year and rise to 2,500,000,000 by 1928. The plan provided for the reorganization of the Reichsbank and for an initial loan of 800,000,000 marks to Germany. The Dawes Plan seemed to work so well that by 1929 it was believed that the stringent controls over Germany could be removed and total reparations fixed. This was done by the Young Plan (q.v.).

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