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Reparations played a significant role in Nazi propaganda, and after coming to power in 1933, Hitler ceased payment of reparations, although Germany still paid interest to holders of reparation bonds until 1939.
Lloyd George wanted terms of reparation that would not cripple the German economy, so that Germany would remain a viable economic power and trading partner. [ 55 ] [ 54 ] [ 52 ] By arguing that British war pensions and widows' allowances should be included in the German reparation sum, Lloyd George ensured that a large amount would go to the ...
At the end of World War I, the Allied Powers included in the Treaty of Versailles a plan for the reparations for which Germany would be liable. It established an interim 20 billion Reichsmarks to be paid through April 1920 and left the full details to be determined by an Inter-Allied Reparation Commission.
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.
The Reparation Commission, also Inter-Allied Reparation Commission (sometimes "Reparations Commission"), was established by the Treaty of Versailles to determine the level of World War I reparations which Germany should pay the victorious Allies. [1] Its remit was soon broadened to reparations by other central powers, namely Austria (by the ...
The value of the German currency continued to fall in the immediate aftermath of the First World war. By late 1919, by which time the German government had signed the Treaty of Versailles, which included an agreement to pay substantial reparations to the Allied powers both in hard cash and in in-kind shipments of goods such as coal and timber, 48 paper marks were required to buy a US dollar. [4]
Of this figure, Germany was only required to pay 50 billion gold marks ($12.5 billion), a smaller amount than they had previously offered for terms of peace. [65] Reparations were unpopular and strained the German economy but they were payable and from 1919 to 1931, when reparations ended, Germany paid fewer than 21 billion gold marks. [66]
Black lines delineate states and Prussian provinces. The 1929 German Referendum was an attempt during the Weimar Republic to use popular legislation to annul the agreement in the Young Plan between the German government and the World War I opponents of the German Reich regarding the amount and conditions of reparations payments.