Dawes Plan
The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was an attempt in 1924 to solve the reparations problem, which had bedeviled international politics following World War I.
The Allies' occupation of the Ruhr industrial area contributed to the hyperinflation crisis in Germany. The plan provided for their leaving the Ruhr, and a staggered payment plan for Germany's payment of war reparations. Because the Plan resolved a serious international crisis, Dawes shared the Nobel Peace Prize in 1925 for his work.
It was an interim measure and proved unworkable; the Young Plan was adopted in 1929 to replace it.
Read more about Dawes Plan: Main Points of The Dawes Plan, Results of The Dawes Plan
Famous quotes containing the word plan:
“I have always thought that one man of tolerable abilities may work great changes, and accomplish great affairs among mankind, if he first forms a good plan, and, cutting off all amusements or other employments that would divert his attention, make the execution of that same plan his sole study and business.”
—Benjamin Franklin (1706–1790)