101 years ago today, on April 9, 1924 (March 6, 1924 in the lunar calendar), the Dawes Plan was published. The Dawes Plan was a plan for the Allies to dispose of German reparations after the First World War. In December 1923, an expert committee headed by American banker Dawes went to Germany to investigate and study the issue of German reparations. On April 9, 1924, the five delegations of France, Belgium, Italy, Britain and the United States issued a draft report, known as the "Dawes Plan". The plan was adopted at the London Conference of the Allies in August. The main contents were: the Allies supervised the restructuring of the Deutsche Bank and stabilized the German currency; before the total amount of reparations had been finalized, it was stipulated that Germany should pay 1 billion gold marks in the first year, and then increase it year by year, and increase it to 2.50 billion gold marks in the fifth year; the actual guarantee of repayment of reparations was customs duties, indirect taxes, railway revenue and industrial taxes; to stabilize the German currency, the Allies first loaned 800 million gold marks (200 million dollars) to Germany, and the United States paid 110 million dollars of it. The "Dawes Plan" quickly restored the German economy.