Germany, and Berlin responded by imposing a runaway inflation that seriously damaged the German economy and also damaged the French economy. The United States, after refusing to ratify the League in 1920, almost completely disassociated itself from it. In 1921, the U.S. set up its own international programme for world disarmament that led to the successful Washington Naval Conference, leaving only a minor role for Britain. As the reparations crisis escalated, the United States seized control of it too, with the Dawes Plan of 1924 by which American banks loaned large sums to Germany, which paid reparations to the Allies, who in turn paid off their war loans to the United States. In 1921, Lloyd George successfully concluded the Anglo-Soviet Trade Agreement. Despite much effort he was unable to negotiate full diplomatic relations, as the Russians rejected all repayment of Tsarist era debts, and Conservatives in Britain grew exceedingly wary of the communist threat to European stability. Indeed, Henry Wilson, the Chief of the Imperial General Staff, worried that Lloyd George had become "a traitor & a Bolshevist". Lloyd George in 1922 set about to make himself master of peace in the world, especially through the Genoa Conference that he expected would rival Paris of 1919 in visibility, and restore his reputation. Poincaré and the French demanded a military alliance that was far beyond what the British would accept. Germany and Russia made their own agreement at Rapallo which wrecked the Genoa conference. Finally, Lloyd George decided to support Greece in a war against Turkey. This led to the Chanak Crisis when the Dominions, with the exception of Newfoundland and New Zealand, rejected the British policy and refused to support the proposed war. Domestic crises The more conservative wing of the Unionist Party had no intention of introducing reforms, which led to three years of frustrated fighting within the coalition both between the National Liberals and the Unionists and between factions within the Conservatives themselves. Many Conservatives were angered by the granting of independence to the Irish Free State and by Edwin Montagu's moves towards limited self-government for India, while a sharp economic downturn and wave of strikes in 1921 damaged Lloyd George's credibility. A scandal erupted in 1922 when it became known that Lloyd George had awarded honours and titles, such as baronetcies, to rich businessmen in return for cash in the range of £10,000 and more, via Maundy