4 MAY 1929, Page 47

THE DAWES PLAN.

For some few years German Reparations have been worked under what is known as the DavieS Nan. Started a few years ago with Reparations on an ascending scale, that plan provided for the payment by Germany of a certain number of gold marks every year, and last autumn the maximum total, representing in sterling an annual payment of £125,000,000, was reached. The Dawes Plan, however, consisted in an arrangement of payments of these large annuities for a wholly indefinite period. In fact, there was no finality about the plan so far as pay- ments were concerned, and in that sense it was- obvious that revision at some time would be necessary.