<P> Under the Dawes Plan, Germany always met her obligations . However, they considered the plan a temporary measure and expected a revised plan at a future date . In late 1927, the Agent - General for Reparations "called for a more permanent scheme" for payments and in 1928 the Germans followed suit . German Foreign Minister Gustav Stresemann called for a final reparation plan to be established alongside an early withdrawal of Allied troops from the Rhineland . The French, aware of their weakening political and financial position, acquiesced . On 16 September 1928, a joint Entente - German statement acknowledging the need for a new reparation plan was issued . </P> <P> In February 1929, a new committee was formed to re-examine reparations . It was chaired by the American banker Owen D. Young and presented its findings in June 1929 . The "Young Plan" was accepted and was ratified by the German Government on 12 March 1930 . The plan established a theoretical final reparation figure at 112 billion gold marks (US $26.35 billion), with a new payment schedule that would see reparations completed by 1988--the first time a final date had been set . In addition, foreign oversight of German finances was to end with the withdrawal of the Reparations Agency, which would be replaced by the Bank for International Settlements . The bank was established to provide cooperation among central banks and to receive and disburse reparation payments . A further loan of US $300 million was to be raised and given to Germany . </P> <P> As a result of the plan, German payments were half the sum required under the Dawes Plan . The implementation of the Young Plan required the Anglo - French withdrawal from the Rhineland within months . Despite the reduction, there was increasing German hostility to the plan . In December 1929, 5.8 million voters registered their opposition to the plan during a plebiscite, which resulted in Adolf Hitler gaining "significant national attention and valuable right - wing financing". </P> <P> In March 1930, the German Government collapsed and was replaced by a new coalition led by Chancellor Heinrich Brüning . In June, Allied troops withdrew from near Mainz--the last occupation zone in the Rhineland--and Brüning's Government broached the subject of demanding further refinement to reparations, but this demand was refused by William Tyrrell, the British ambassador to France . During 1931, a financial crisis began in Germany . In May, Creditanstalt--the largest bank in Austria--collapsed, sparking a banking crisis in Germany and Austria . In response, Brüning announced that Germany was suspending reparation payments . This resulted in a massive withdrawal of domestic and foreign funds from German banks . By mid-July, all German banks had closed . Until this point, France's policy had been to provide Germany with financial support to help Brüning's Government stabilize the country . Brüning, now under considerable political pressure from the far - right and President Paul von Hindenburg, was unable to make any concessions or reverse policy . As a result, Brüning was unable to borrow money from foreign or domestic sources . Further attempts to enlist British support to end reparations failed; the British said it was a joint issue with France and the United States . In early July, Brüning announced "his intention to seek the outright revision of the Young Plan". In light of the crisis and with the prospect of Germany being unable to repay her debts, United States President Herbert Hoover intervened . In June, Hoover publicly proposed a one - year moratorium to reparation and war debts . By July, the "Hoover Moratorium" had been accepted . </P>

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