(1929) Renegotiation of Germany's World War I reparations payments by a committee chaired by the U.S. lawyer Owen D. Young (18741962) in Paris.
The Young Plan, a revision of the Dawes Plan , reduced the amount due from Germany to $26.3 billion, to be paid over 59 years, and ended foreign controls on German economic life. It went into effect in 1930, but the world depression affected Germany's ability to pay. When Adolf Hitler came to power in 1933, he repudiated the obligations of the Treaty of Versailles , including reparations.