The intervention was a failure, and France accepted the American solution to the reparations issues, as expressed in the Dawes Plan and the Young Plan.
32.
The Dawes Committee, for which McFadyean was secretary, instituted the Dawes Plan, which proposed that reparations should be paid, but without distorting rates of exchange.
33.
Another major triumph for MacDonald was the conference held in London in July and August 1924 to deal with the implementation of the Dawes Plan.
34.
Once the Allies had relinquished control of the customs posts, Germany made no further payments in cash until 1924 following the implementation of the Dawes Plan.
35.
In 1929 the Dawes Plan was replaced by the Young Plan, with which he had no direct part, and this aimed at a final settlement of reparations.
36.
Following the Dawes Plan in September 1924, an agreement to a slightly less punitive war reparations payment r�gime, the French vacated the Ruhr in the summer of 1925.
37.
Finally all the major nations agreed to accept the American proposals, known as the Dawes Plan of 1924 and the Young Plan of 1929, to stabilize reparation payments.
38.
Since the implementation of the Dawes Plan required a government able to act with decision, the cabinet tried to stay on as caretaker until the new Reichstag assembled.
39.
The Dawes Plan ( 1924-29 ) and the Young Plan ( 1929-31 ), sponsored by the United States, provided financing for the sums Germany owed the Allies in reparations.
40.
However, it was the Dawes Plan which initially turned the German economy round; but not before agitators had exploited the anger of the populace and politicians had fomented discontent.
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