jul 2, 1924 - Creation of the Dawes Plan
Description:
The outcome of the Dawes Plan, which was created to fix the issue of Germany failing to meet her annual reparation payments, was that the annual reparation payments were decreased to what could reasonably be afforded and the United States began to give loans to Germany for Germany to pay Britain, France, and Italy. However, this would simply spread the economic effects to more European countries when the Stock Market Crash happens. Shown is the cycle of payments.Added to timeline:
Date:
jul 2, 1924
Now
~ 100 years ago