AMERICAN IMPERIALISM 1890 1919
LEAGUE OF NATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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lent the Germans money
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reduced the amount Germany had to pay back
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Either A or B
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None of the above
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Detailed explanation-1: -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.
Detailed explanation-2: -The Young Plan was simple. It cut Germany’s total reparations from £6.6billion to £2 billion. In addition, the Young Plan also gave 59 years to pay reparations meaning Germany would be paying reparations until 1988.
Detailed explanation-3: -The Young Plan reduced further payments by about 20 percent. Although the theoretical total was 112 billion Gold Marks, equivalent to US ca. $27 billion in 1929 (US$ 126 billion in 2023) over a period of 58 years, which would end in 1988, few expected the plan to last for much more than a decade.
Detailed explanation-4: -The Treaty of Versailles didn’t just blame Germany for the war-it demanded financial restitution for the whole thing, to the tune of 132 billion gold marks, or more than $500 billion today.
Detailed explanation-5: -After both World War I and World War II, Germany was responsible for paying back massive sums of money to both the United States and other countries in Europe.