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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.
He is known for the plan to settle Germany's World War I reparations, known as the Young Plan and for the creation of the Radio Corporation of America. Young founded RCA as a subsidiary of General Electric in 1919; he became its first chairman and continued in that position until 1929. RCA was divested in 1932 and liquidated by GE in 1986.
A referendum on the Young Plan was held in Germany on 22 December 1929. It was an attempt to use popular legislation to annul the Young Plan agreement between the German government and the World War I opponents of the German Reich regarding the amount and conditions of reparations payments. The referendum was the result of the initiative ...
The next crisis followed Stresemann's negotiation in 1929 of the Young Plan, which rescheduled reparations payments and opened the way for needed American loans. The right formed a committee to block adoption, which started by intensively lobbying Hindenburg using such powerful voices as that of Admiral Tirpitz.
After modifications by Hermann Müller's government to the Young Plan during the Second Conference of The Hague (January 1930), he resigned as Reichsbank president on 7 March 1930. During 1930, Schacht campaigned against the war reparations requirement in the United States.
The former Desert Island Discs presenter wants to expel a population of wallabies and build a holiday lodge on the island.
The implementation of the Young Plan required the Anglo-French withdrawal from the Rhineland within months. [82] Despite the reduction, there was increasing German hostility to the plan. For example, the Law against the Enslavement of the German People, or Freedom Law, was proposed by the nationalist politician Alfred Hugenberg .
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