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Young Plan - Wikipedia

The Young Plan was a program for settling Germany's World War I reparations written in August 1929 and formally adopted in 1930. It was presented by the committee headed (1929–30) by American industrialist Owen D. Young, creator en.wikipedia.org/wiki/Young_Plan

and ex-first chairman of the Radio Corporation of America (RCA), who, at the time, concurrently served on the board of trustees of the Rockefeller Foundation, and also had been one of the representatives involved in a previous war-reparations restructuring arrangement—the Dawes

Plan of 1924. The Inter-Allied Reparations Commission established the German reparation sum at a theoretical total of 132 billion, but a practical total of 50 billion gold marks.

The committee, which had been appointed by the Allied Reparations Committee, met in the first half of 1929, and submitted its first report on June 7 of that year. In addition to Young, the United States was represented by J. P. Morgan, Jr., the prominent banker, and his partner,

Thomas W. Lamont. The report met with great objections from the United Kingdom but, after a first Conference in The Hague, a plan was finalised on August 31. The plan was formally adopted at a second Hague Conference, in January 1930.

Amongst other provisions, the plan called for an international bank of settlements to handle the reparations transfers. The resulting Bank for International Settlements was duly established at the Hague Conference in January.

Between 1933 and 1945 the BIS board of directors included Walther Funk, a prominent Nazi official, and Emil Puhl responsible for processing dental gold looted from concentration camp victims, as well as Hermann Schmitz, the director of IG Farben, and Baron von Schroeder, the

owner of the J.H. Stein Bank [de], all of whom were later convicted of war crimes or crimes against humanity.

The 1944 Bretton Woods Conference recommended the "liquidation of the Bank for International Settlements at the earliest possible moment". This resulted in the BIS

being the subject of a disagreement between the U.S. and British delegations. The liquidation of the bank was supported by other European delegates, as well as Americans (including Harry Dexter White and Secretary of the Treasury Henry Morgenthau Jr.).[11] Abolition was opposed

The Morgenthau Plan was a proposal to eliminate Germany's ability to wage war following World War II by eliminating its arms industry and removing or destroying other key industries basic to military strength.

By February 28, 1947, it was estimated that 4,160,000 German former prisoners of war, by General Dwight D. Eisenhower relabeled as Disarmed Enemy Forces in order to negate the Geneva Convention, were used as forced labor by the various Allied countries to work in camps outside

Germany: 3,000,000 in Russia, 750,000 in France, 400,000 in Britain and 10,000 in Belgium.[57] Meanwhile, in Germany large parts of the population were starving[57] at a time when, according to a study done by former US President Herbert Hoover, the nutritional condition in

countries in Western Europe was nearly pre-war normal.[57] German prisoners engaged in dangerous tasks, such as clearing mine fields.

German researchers were being put to work in the Soviet Union and in the UK and US (see also Operation Paperclip).
The Marshall Plan was extended to also include Western Germany after it was realized that the suppression of the Western German economy was holding back the

recovery of the rest of Europe.[