Ten months have elapsed since the submission of the Dawes report and its acceptance by the Reparations Commission. The report was submitted April 9, 1924 and accepted by the Reparations Commission two days later. The Dawes plan thus became the basis for all subsequent dealing with the reparation problem. The Dawes plan came into effect with the signing of the London protocol, August 30, and the first payment under the plan was made September 1, 1924.
The following report reviews operations and the results achieved, under the Dawes plan throughout this period with special reference to the interests of the United States government and American investors in German securities.
(For early material on the Dawes plan reference is made to “The Dawes Report—An Economic Analysis” April ...