sep 18, 1937 - Dawes Plan

Description:

This was an attempt to fix the post WWI German reparations problems, and was proposed by the Dawes committee (chaired by Charles G. Dawes)

Main Points:
- Foreign troops were to be evacuated from the Ruhr.
- Reparation payments would begin at one billion marks the first year, increasing annually to two and a half billion marks after five years
- America loaned Germany 8,000,000 marks to Germany, mainly through Wall Street bonds.
- The Reichsbank would be re-organized under Allied supervision
- The sources for the reparation money would include transportation, excise, and customs taxes