Editing Dawes Plan (section)

==The Plan==
[[File:Deutsche Äussere Anleihe 1924.jpg|thumb|German External Loan, issued 15 October 1924]]
The Dawes Report stressed in its introduction that "the guarantees we propose are economic and not political in nature".<ref name=":9">{{Cite book |last1=Schlochauer |first1=Hans J. |url={{Google books|EBSE1BF_w2AC|page=315|plainurl=yes}} |title=Wörterbuch des Völkerrechts |last2=Krüger |first2=Herbert |last3=Mosler |first3=Hermann |last4=Scheuner |first4=Ulrich |publisher=DeGruyter |year=1960 |volume=1 |location=Berlin |pages=315 |language=de |trans-title=Dictionary of International Law}}</ref> The resulting Dawes Plan covered payment amounts and timing, sources of revenue, loans to Germany, currency stabilization and ending the Ruhr occupation:
*  Reparations payments began at one billion Reichsmarks the first year, increasing annually to two and a half billion after five years. No total sum was set.<ref name=":4" /> The terms included a prosperity index, based on which Germany would have to pay more under favourable economic circumstances.<ref>{{Cite web |title=Papers Relating to the Foreign Relations of the United States, the Paris Peace Conference, 1919, Volume XIII: Part VIII—Reparation |url=https://history.state.gov/historicaldocuments/frus1919Parisv13/ch17 |access-date=21 October 2023 |website=US Department of State Office of the Historian}}</ref>
*  The sources for reparation payments included taxes on customs duties, alcohol, tobacco and sugar, and revenue from railroads and the budget.<ref name=":9" /> As a guarantee for payments, the [[Deutsche Reichsbahn|German National Railway]] was converted into a corporation under creditor-state supervision. An interest-bearing mortgage on German industry for 5 billion Reichsmarks also served as a guarantee.<ref name=":7" />
*  The [[Reichsbank]] was reorganized under the supervision of the creditor states. It had seven representatives from the creditor states and seven Germans on its board<ref>{{Cite web |date=30 August 1924 |title=Reichsgesetzblatt Teil II Nr. 32: Bank Gesetz § 14 |trans-title=Reich Law Gazette Part II Nr. 32: Banking Law § 14 |url=https://alex.onb.ac.at/cgi-content/alex?aid=drb&datum=1924&page=264&size=34 |access-date=19 August 2023 |website=Österreichische Nationalbibliothek – Gesetzestexte Online |language=de}}</ref> and was independent of the central government.<ref name=":5" />
*  Germany was loaned 800 million Reichsmarks to be the base capital of the central bank and to ensure the Reichsmark’s stability.<ref name=":7">{{Cite book |last=Winkler |first=Heinrich August |title=Der lange Weg nach Westen |publisher=C.H. Beck |year=2000 |isbn=978-3-406-66049-8 |volume=1 |location=Munich |pages=451 |language=de |trans-title=The Long Road to the West}}</ref> About half of the sum was raised through [[Wall Street]] bond issues in the United States.<ref name=":2" />
*  The Allied Reparations Commission was replaced by a Transfer Committee which was to take the value of the Reichsmark into consideration when making payment transfers.<ref name=":7" /> Payments were not to be made if they endangered the gold that backed the Reichsmark. Repayment of commercial debts took priority over reparations payments in order to maintain Germany's creditworthiness.<ref name=":8">{{Cite web |last=Piper |first=Ernst |date=7 July 2021 |title=Weimarer Republik: Gefährdete Stabilität 1924–1929 |trans-title=Weimar Republic: Endangered Stability (1924–1929) |url=https://www.bpb.de/shop/zeitschriften/izpb/weimarer-republik-346/332895/gefaehrdete-stabilitaet-1924-1929/ |access-date=8 October 2023 |website=Bundeszentrale für politische Bildung (bpb) |language=de}}</ref>
*  Foreign troops were to be withdrawn from the Ruhr.