In
1924 the American banker Charles G. Dawes was commissioned by the Committee for
Allied Repairs to investigate the problem. His report, published in April 1924,
proposed a plan to establish annual debt repair payments on a fixed scale. He
also recommended the reorganization of the German State Bank into a private
central bank. In the summer of 1924, the “Dawes plan” was adopted at the London
conference.
The Vital Needs Theory - page 83