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German Government International 500 Pound 5.5% 1930 Young Bond - Canceled 500 Pound Bond

Inv# FB6446A   Bond
German Government International 500 Pound 5.5% 1930 Young Bond - Canceled 500 Pound Bond
Country: Germany
Years: 1930
Color: Blue, Red or Black

£500 Blue, 1,000 Francs or 1,000 Reichsmarks Black 5 1/2% Cancelled Bond. Please specify color. The Young Plan was a program for settling Germany's World War I reparations. It was written in August 1929 and formally adopted in 1930. It was presented by the committee headed (1929–30) by American industrialist Owen D. Young, founder and former chairman of Radio Corporation of America (RCA), who, at the time, was a member of the board of trustees of the Rockefeller Foundation. Young also had been one of the representatives involved in a previous war-reparations restructuring arrangement—the Dawes Plan of 1924. The Inter-Allied Reparations Commission established the German reparation sum at a theoretical total of 132 billion, but a practical total of 50 billion gold marks.

After the Dawes Plan was put into operation in 1924, it became apparent that Germany would not willingly meet the annual payments over an indefinite period. The Young Plan reduced further payments by about 20 percent. Although the theoretical total was 112 billion Gold Marks, equivalent to US ca. $27 billion in 1929 (US$ 126 billion in 2023) over a period of 58 years, which would end in 1988, few expected the plan to last for much more than a decade. In addition, the Young Plan divided the annual payment, set at two billion Gold Marks, US$473 million, into two components: one unconditional part, equal to one third of the sum, and a postponable part, equal to the remaining two-thirds, which would incur interest and be financed by a consortium of American investment banks coordinated by J.P. Morgan & Co. Read more at https://en.wikipedia.org/wiki/Young_Plan

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Condition: Excellent

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $75.00