was solved by a compromise brokered by the United States in the form of the Dawes Plan in 1924. This plan, sponsored by American Charles G. Dawes, set out a new financial scheme. New York banks loaned Germany hundreds of millions of dollars that it used to pay reparations and rebuild its heavy industry. France, Britain and the other countries used the reparations in turn to repay wartime loans they received from the United States. By 1928 Germany called for a new payment plan, resulting in the Young Plan that established the German reparation requirements at 112 billion marks () and created a schedule of payments that would see Germany complete payments by 1988. With the collapse of the German economy in 1931, reparations were suspended for a year and in 1932 during the Lausanne Conference they were suspended indefinitely. Between 1919 and 1932, Germany paid less than 21 billion marks in reparations. After 1953 West Germany paid the entire remaining balance. Mexico Since the turmoil of the Mexican revolution had died down, the Harding administration was prepared to normalize relations with Mexico. Between 1911 and 1920, American imports from Mexico increased from $57,000,000 to $179,000,000 and exports from $61,000,000 to $208,000,000. Commerce Secretary Herbert Hoover took the lead in order to promote trade and investments other than in oil and land, which had long dominated bilateral economic ties. President Álvaro Obregón assured Americans that they would be protected in Mexico, and Mexico was granted recognition in 1923. A major crisis erupted in the mid-1930s when the Mexican government expropriated millions of acres of land from hundreds of American property owners as part of President Lázaro Cárdenas's land redistribution program. No compensation was provided to the American owners. The emerging threat of the Second World War forced the United States to agree to a compromise solution. The US negotiated an agreement with President Manuel Avila Camacho that amounted to a military alliance. Intervention ends in Latin America Small-scale military interventions continued after 1921 as the Banana Wars tapered off. The Hoover administration began a goodwill policy and withdrew all military forces. President Roosevelt announced the "Good Neighbor Policy" by which the United States would no longer intervene to promote good government, but would accept whatever governments were locally chosen. His Secretary of State Cordell Hull endorsed article 8 of the 1933 Montevideo Convention on Rights and Duties of States; it