Dawes Plan, 1924
• USA lends money to Germany which is spent on building up the German economy
• Germany uses increased tax revenues to pay reparations to France
• France pays back war loans to the USA and imports goods to held rebuild France
• The USA gets back the money they lent to Germany
• Germany uses increased tax revenues to pay reparations to France
• France pays back war loans to the USA and imports goods to held rebuild France
• The USA gets back the money they lent to Germany
Young Plan, 1929
• Owen D. Young, american baker
• Recommendation that German reparations should be reduced by 3/4
• Annual payments to be made on a scaled model (over a time period of 75 years)
• Germans hate it (Hitler, didn't think Germany had to pay any money, and eventually stopped paying)
• Recommendation that German reparations should be reduced by 3/4
• Annual payments to be made on a scaled model (over a time period of 75 years)
• Germans hate it (Hitler, didn't think Germany had to pay any money, and eventually stopped paying)
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"It takes vision and courage to create - it takes faith and courage to prove." - Owen Young
SUMMARY
The Dawes Plan was when the USA lent money to Germany to rebuild their economy/country after the war. Germany increased tax revenues to pay reparations to France, and France payed back war loans to the USA. The Young Plan was created by Owen D. Young, it was a program for settlement to German reparation debts over a period of 75 years.