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The Dawes Plan temporarily resolved the issue of the reparations that Germany owed to the Allies of World War I.Enacted in 1924, it ended the crisis in European diplomacy that occurred after French and Belgian troops occupied the Ruhr in response to Germany's failure to meet its reparations obligations.
The Labour Party opposed the occupation of the Ruhr throughout 1923, which it rejected as French imperialism. The British Labour Party believed it had won when Poincaré accepted the Dawes Plan in 1924. [40] Despite his disagreements with the United Kingdom, Poincaré desired to preserve the Anglo-French entente and moderated his aims to a degree.
Charles Gates Dawes (August 27, 1865 – April 23, 1951) was an American diplomat and Republican politician who was the 30th vice president of the United States from 1925 to 1929 under Calvin Coolidge. He was a co-recipient of the Nobel Peace Prize in 1925 for his work on the Dawes Plan for World War I reparations.
Due to the lack of reparation payments by Germany, France occupied the Ruhr in 1923 to enforce payments, causing an international crisis that resulted in the implementation of the Dawes Plan in 1924. This plan outlined a new payment method and raised international loans to help Germany to meet its reparation commitments.
The most important issue that the cabinet faced was the vote on the Dawes Plan. It had been drafted by a committee of experts from the victorious powers of World War I in an attempt to resolve major questions surrounding Germany's payment of reparations. The report emphasized that Germany must have a stable currency and a balanced budget but ...
The vote on the Dawes Plan on 29 August 1924 was described as "one of the most dramatically moving votes ever experienced by the German Reichstag, since the final result remained uncertain until the very last minute". [92] About half of the DNVP MdRs voted for the Dawes Plan while the other half voted against. [85]
The Dawes Plan committee urged all nations concerned to enact the plan quickly before conditions in Germany changed. [ 44 ] The Des Moines, Iowa radio station WHO began broadcasting as one of the " clear-channel station " permitted to operate 24 hours a day.
The following events occurred in July 1924: July 1, 1924 (Tuesday) ... The London Reparations Conference opened to arrange for the implementation of the Dawes Plan.