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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.
Washington also helped stabilize the European economy through the Dawes Plan and the Young Plan. The Immigration Act of 1924 was aimed at stabilizing the traditional ethnic balance and strictly limiting the total inflow. The act completely blocked Asian immigrants, providing no means for them to get in. [2] The Wall Street Crash of 1929 and the ...
On the subject of foreign policy, the president noted that the Dawes Plan was making progress in European reconstruction after World War 1. On this matter, the president said: [ 1 ] [ 2 ] It is not necessary to stress the general desire of all the people of this country for the promotion of peace.
The Dawes Plan led to a boom in the German economy, as well as a sentiment of international cooperation. [110] 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 ...
1924 – American-led conference results in the Dawes Plan. Eased reparations for Germany and improved its economic situation. 1924 – Rogers Act establishes the Foreign Service by merging the low-paid high prestige diplomatic service with the higher paid, middle class consul service. The act provided a merit-based career path, with guaranteed ...
The resulting Dawes Plan, which provided for annual payments by Germany, was accepted at a 1924 conference held in London. [63] Autochrome portrait by Georges Chevalier, 1924. Hughes favored a closer relationship with the United Kingdom, and sought to coordinate US foreign policy with Great Britain concerning matters in Europe and Asia. [64]
1 September: The Dawes Plan to lower and reschedule Germany's reparations payments comes into force. [66] 11 October: The Reichsmark replaces the temporary Rentenmark, which had been introduced on 15 November 1923. [67] 7 December: The second Reichstag election of 1924 ends with the same parties in the top three places as after the 4 May vote. [68]