Dawes Plan

Summary
1923

• Stresemann calls off Passive Resistance (September) + agrees to resume reparations payments (Policy of FULLFILMENT / conciliation)
• New German 'Government backed' currency introduced - The Rentenmark.
• Hitler's Putsch, November 1923 (fails)

1924

• Allies form the Dawes Committee (April) - Fixed (realistic) payment of £50 million per year for 5 years.
• Germany given international loans -  800 million RMs
  • Economy stabilized / Government had funds to invest / Germany paid reparations / Allies 'content'.
• Start of a 'recovery' - as the Golden Years, 1924 -28

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