Young Plan


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Young Plan,

program for settlement of German reparationsreparations,
payments or other compensation offered as an indemnity for loss or damage. Although the term is used to cover payments made to Holocaust survivors and to Japanese Americans interned during World War II in so-called relocation camps (and used as well to describe
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 debts after World War I. It was presented by the committee headed (1929–30) by Owen D. Young. After the Dawes PlanDawes Plan,
presented in 1924 by the committee headed (1923–24) by Charles G. Dawes to the Reparations Commission of the Allied nations. It was accepted the same year by Germany and the Allies.
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 was put into operation (1924), it became apparent that Germany could not meet the huge annual payments, especially over an indefinite period of time. The Young Plan—which set the total reparations at $26,350,000,000 to be paid over a period of 58 1-2 years—was thus adopted by the Allied Powers in 1930 to supersede the Dawes Plan. Designed to substitute a definite settlement under which Germany would know the exact extent of German obligations and to reduce the payments appreciably, the Young Plan divided the annual payment, set at about $473 million, into two elements—an unconditional part (one third of the sum) and a postponable part (the remainder). The annuities were to be raised through a transportation tax and from the budget. No sooner had the plan gone into effect than Germany felt the full impact of economic depression, and a moratorium was called for the fiscal year 1931–32. When Adolf HitlerHitler, Adolf
, 1889–1945, founder and leader of National Socialism (Nazism), and German dictator, b. Braunau in Upper Austria. Early Life

The son of Alois Hitler (1837–1903), an Austrian customs official, Adolf Hitler dropped out of high school, and
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 took over Germany, he defaulted on the unpaid reparations debt. After Germany's defeat in World War II, an international conference decided (1953) that Germany would pay the remaining debt only after the country was reunified. Nonetheless, West Germany paid off the principal by 1980; then in 1995, after reunification, the new German government announced it would resume payments of the interest.

Young Plan

 

the second reparations plan for Germany, replacing the Dawes Plan. Drawn up by a committee of financial experts from several countries under the chairmanship of the American banker O. Young, the plan was adopted, with some modifications, at the Hague Conference on Reparations of 1929–30.

The creation of the Young Plan was dictated to a considerable extent by the interests of the private, mostly American, creditors of Germany, whose solvency was being undermined by the enormous reparations it was required to pay. The new plan retained the anti-Soviet character of the Dawes Plan. It provided for a slight reduction in the amount of annual payments (by an average of up to two billion marks), the abolition of the reparations tax on industry, a reduction of taxation on transportation, and the elimination of foreign controls. One of the most important consequences of the adoption of the Young Plan was the early withdrawal of occupation troops from the Rhineland.

The Young Plan remained in effect only until July 1931; it was officially abolished in 1932. The burdens imposed by the plan, however, were made use of by reactionary forces in Germany to incite a spirit of chauvinism in the country.

PUBLICATION

Plan Iunga i Gaagskaia konferentsiia 1929–1930 gg: Dokumenty i materialy. Moscow-Leningrad, 1931.
References in periodicals archive ?
It's something the young plan for way ahead, booking cheap flights and hotel rooms months ahead.
Efforts were made to reduce the strain, notably with the Dawes Plan in 1924 and the Young Plan in 1929, during which Berlin was granted loans to meet its reparation payments.
They remark upon the success of Hugenberg's Freedom Law petition (on whether President Hindenburg and all his cabinet should be tried for treason for agreeing to the Young Plan war reparations agreement and every international agreement since the war, including the Treaty of Versailles) in persuading people to join the Nazi Party in County Friedberg.
Sources says the Roth 401(k) will generally be most attractive to young plan participants who expect their incomes will rise over time.
Perhaps Cohrs's most important revisionist points deal with the circumstances behind the major events of the second half of the 1920s, specifically, the development of the Young Plan (which revised Germany reparation payment schedule), the Kellogg-Briand Pact, and his analysis of the significance of the advent of the Great Depression in 1929.
While at the time governments were thinking in the context of the Young Plan of establishing a trustee institution to process and settle Germany's reparation payments, key western central bankers advising their governments had a second agenda.
BATTLE LINES: Diane and Colin Young plan to fight the council who wants them to leave the site they have used for 50 years
REPARATIONS NEGOTIATIONS: FROM THE DAWES PLAN TO THE YOUNG PLAN Reparations poisoned Germany's political and financial environment for the greater part of the decade.
The book is a focused monograph, examining the role of American loans in Weimar Germany from the beginning of the Dawes Plan in 1924 until the revision of reparations in the Young Plan in 1929.
He and Young plan to present their written statement at today's off-campus news conference at the Ritz-Carlton Hotel in Pasadena.
Commerce One and Cap Gemini Ernst & Young plan to promote the alliance through joint marketing and sales efforts.
Young plans to give his dog, who has excited racegoers and connections by winning puppy events at Sunderland, Hove and Nottingham and is owned by the Champagne Club, another spin next Sunday.

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