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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.
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 end of passive resistance in the Ruhr allowed Germany to undertake a currency reform and to negotiate the Dawes Plan, which led to the withdrawal of French and Belgian troops from the Ruhr Area in 1925. The agreement of the Dawes plan in late 1924 also led to a resumption of reparations payments in hard cash and gold.
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]
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. [127]
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The Young Plan was a 1929 attempt to settle issues surrounding the World War I reparations obligations that Germany owed under the terms of Treaty of Versailles.Developed to replace the 1924 Dawes Plan, the Young Plan was negotiated in Paris from February to June 1929 by a committee of international financial experts under the leadership of American businessman and economist Owen D. Young.
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