Young Plan

The 1929 agreement reorganized Germany’s First World War reparations, set a long-term payment schedule, and proposed an international institution to administer them.

German reparations: Payments imposed on Germany after the First World War to compensate the Allied powers for war-related losses. The plan revised the amount, timing, and administration of these obligations.
Treaty of Versailles: The 1919 peace treaty that ended the state of war between Germany and the Allied powers and imposed territorial, military, and financial terms. Its reparations provisions created the obligations the Young Plan later revised.
Charles G. Dawes: An American banker and politician who chaired the committee behind the 1924 plan for German reparations. His earlier settlement supplied the framework that the Young Plan superseded.
German referendum of 1929: A German referendum on a nationalist proposal to reject reparations and penalize officials accepting them; it failed to pass. The campaign against the Young Plan turned reparations into a mass political issue.
Bank for International Settlements: An international financial institution established in 1930 to facilitate cooperation among central banks and administer reparations payments. The plan proposed this institution to handle transfers and related financial tasks.
German hyperinflation: The severe collapse of the German mark’s value in 1921–1923, culminating in rapid price increases. Its aftermath made the economic sustainability of reparations a central concern.
Hjalmar Schacht: A German banker who served as president of the Reichsbank and opposed the Young Plan’s reparations terms. He represented German financial objections during negotiations and later campaigned against the plan.
National Socialist German Workers' Party: The far-right German political party led by Adolf Hitler that became the Nazi regime’s ruling party in 1933. The party gained visibility through its campaign against the plan and the referendum.
Dawes Plan: The 1924 arrangement that restructured German reparations payments and supported them with foreign loans. It was the temporary framework the Young Plan was designed to replace.
Owen D. Young: An American businessman who chaired the committee that drafted the 1929 reparations settlement bearing his name. He led the international committee whose proposals became the plan.

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