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Dawes, who was the U.S. vice president at the time, received the Nobel Peace Prize of 1925 for "his crucial role in bringing about the Dawes Plan", specifically for the way it reduced the state of tension between France and Germany resulting from Germany's missed reparations payments and France's occupation of the Ruhr.
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.
France's economy also suffered during the Ruhr occupation. It turned to Britain and the United States for assistance, and together they developed the Dawes Plan. It lowered and restructured Germany's reparations payments, and France agreed to vacate the Ruhr. [20] The evacuation was completed on 25 August 1925.
The crisis was solved by a compromise in the form of the Dawes Plan in 1924. [53] Under the plan, developed by a committee headed by American Charles G. Dawes, New York and London banks loaned Germany hundreds of millions of dollars to stabilize its currency and expand production, which then allowed it to pay reparations. [18]
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.
The immediate crisis was solved by the 1924 Dawes Plan, an international effort chaired by the American banker Charles G. Dawes. It set up a staggered schedule for Germany's payment of war reparations, provided for a large loan to stabilise the German currency and ended the occupation of the Ruhr. [126]
In 1924, Germany lost a football match for the first time on German soil, against Italy in the Wedaustadion, losing 1:0. 1928 – Paul Reusch founds the Ruhrlade in January 1928. Winding towers, like these of the Zeche Zollverein in 1928, marked the landscape of the Ruhr. 1928 – A period of boundary reforms. As a result, the "double-towns" of ...
Building on the success of the Dawes Plan, U.S. ambassador Alanson B. Houghton helped organize the Locarno Conference in October 1925. The conference was designed to ease tensions between Germany and France, the latter of which feared a German rearmament.