Dawes Plan: Difference between revisions

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# Germany would be loaned about $200 million, primarily through Wall Street bond issues in the United States<ref>Modern World History Text Book, Ben Walsh (OCR Exam Board)</ref>
The bond issues were overseen by consortium of American investment banks, led by [[J.P. Morgan & Co.]] under the supervision of the US State Department. Germany benefitted enormously both from the influx of foreign capital. The Dawes Plan went into effect in September 1924. Dawes and Sir [[Austen Chamberlain]] shared the [[Nobel Peace Prize]].
The economy of Germany began to rebound during the mid-1920s and the country continued with the payment of reparations—now funded by the large scale influx of American capital. However, the Dawes Plan was considered by the Germans as a temporary measure and they expected a revised solution in the future. In 1928, German Foreign Minister Gustav Stresemann called for a final plan to be established, and the [[Young Plan]] was enacted in 1929.
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