(1924) Arrangement for Germany's payment of reparations to the Allies after World War I , produced by a committee of experts presided over by
The total amount of reparations was not determined, but payments were to begin at 1 billion gold marks in the first year and rise to 2.5 billion by 1928. The plan, which also provided for the reorganization of the Reichsbank and for an initial foreign loan of 800 million marks to Germany, was later replaced by the more lenient {{link=Young Plan">Young Plan .