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 hated biography, and more especially, autobiography. If biography, the writer invariably finds it necessary to plaster the subject with praises, flattery and adulation and to invest him with all the Christian graces. If autobiography, the same plan is followed, but the writer apologizes for it.”
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