USA HISTORY

Detailed explanation-1: -The Young Plan was a program for settling Germany’s World War I reparations. It was written in August 1929 and formally adopted in 1930. It was presented by the committee headed (1929–30) by American industrialist Owen D.

Detailed explanation-2: -Young Plan, (1929), second renegotiation of Germany’s World War I reparation payments. A new committee, chaired by the American Owen D. Young, met in Paris on Feb. 11, 1929, to revise the Dawes Plan of 1924.

Detailed explanation-3: -The Dawes Plan for reparations payments ended in 1928. A new, final, plan was created to cover the rest of the debt. This was called the Young Plan, named after its creator Owen D. Young.

Detailed explanation-4: -Young, the head of General Electric and a member of the Dawes committee, proposed a plan that reduced the total amount of reparations demanded of Germany to 121 billion gold marks, almost $29 billion, payable over 58 years. Another loan would be floated in foreign markets, this one totaling $300 million.

Detailed explanation-5: -This pushed the country into a state of hyperinflation. So, the United States of America intervened and introduced the Dawes Plan-to reorganise the Reichsbank and rework the terms of reparation.