Description: German External Gold Loan Uncancelled 7% 1924 Gold Bond with the 9 traditional coupons remaining with PASS-CO AUTHENTICATION. Almost complete identical to the German Dawes $1,000 Bonds. Only difference is the denomination & the appearance. The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was a plan in 1924 that successfully resolved the issue of World War I reparations that Germany had to pay. It ended a crisis in European diplomacy following World War I & the Treaty of Versailles. The plan provided for an end to the Allied occupation, & a staggered payment plan for Germany's payment of war reparations. Because the Plan resolved a serious international crisis, Dawes shared the Nobel Peace Prize in 1925 for his work. It was an interim measure & proved unworkable. The Young Plan was adopted in 1929 to replace it. At the conclusion of World War I, the Allied & Associate Powers included in the Treaty of Versailles a plan for reparations to be paid by Germany; 20 billion gold marks was to be paid while the final figure was decided. In 1921, the London Schedule of Payments established the German reparation figure at 132 billion gold marks (separated into various classes, of which only 50 billion gold marks was required to be paid). German industrialists in the Ruhr Valley, who had lost factories in Lorraine which went back to France after the war, demanded hundreds of millions of marks compensation from the German government. Despite its obligations under the Versailles Treaty, the German government paid the Ruhr Valley industrialists, which contributed significantly to the hyperinflation that followed. For the first five years after the war, coal was scarce in Europe & France sought coal exports from Germany for its steel industry. The Germans needed coal for home heating & for domestic steel production, having lost the steel plants of Lorraine to the French. To protect the growing German steel industry, German coal producers"whose directors also sat on the boards of the German state railways & German steel companies"began to increase shipping rates on coal exports to France. In early 1923, Germany defaulted on its reparations & German coal producers refused to ship any more coal across the border. French & Belgian troops conducted the Occupation of the Ruhr to compel the German government to resume shipments of coal & coke. Germany characterized the demands as onerous under its post war condition (60 per cent of what Germany had been shipping into the same area before the war began). This occupation of the Ruhr, the centre of the German coal & steel industries outraged many German people. There was passive resistance to the occupation & the economy suffered, contributing further to the German hyperinflation. To simultaneously defuse this situation & increase the chances of Germany resuming reparation payments, the Allied Reparations Commission asked Dawes to find a s Item ordered may not be exact piece shown. All original and authentic.
Price: 1685 USD
Location: Portsmouth, New Hampshire
End Time: 2024-11-28T17:34:03.000Z
Shipping Cost: 6.25 USD
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All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
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