Since the whole fiscal structure of Europe is based today upon the Dawes Plan, it is clear that the mightiest event which looms for 1929 is revision of the Dawes Plan, by the new Reparations Committee of Experts. Therefore the major international news of last week was comprised in the two following developments:

First. Prime Minister Raymond Poincare of France announced at Paris that Tycoon Owen D. Young had accepted a joint Allied and German invitation to sit on the new Committee of Experts as one...

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