FROM AUGUST 23 TO SEPTEMBER 23
LONDON AGREEMENT RATIFIED
Dawes Plan in Operation.—The protocol drawn up at the London Conference in August, embodying the agreements reached for putting the “Dawes Plan” into effect, was ratified in the French Parliament by a large majority, and in the German Reichstag the Railroad Bills carrying into effect the “Dawes Plan” and thus effectively sanctioning the London Agreement were passed by a vote of 314-127, or well over the necessary two-thirds majority. Although not yet approved by the British Parliament, the British Government was so confident of support for the protocol, that it was formally signed in London on August 30. Belgium, France, Great Britain (including the five dominions), Germany, Italy, Japan and Jugoslavia signed the document, which went into effect September 1.
Owen D. Young, former American representative on the committee of financial experts, was made temporary Agent General of Reparations Payments, to be succeeded shortly by S. Gilbert Parker, Jr., former Assistant Secretary of the U. S. Treasury. Of sixteen arbitral boards provided by the London Agreement, three must include American members.