The Dawes plan was the American solution to the crisis of reparations, in which France was demanding more money than Germany was willing to pay, so France occupied the key industrial Ruhr district of Germany with its army. The Occupation of the Ruhr in 1923 Caused an international crisis; Germany deliberately hyperinflated currency, making the occupation highly expensive for France. The crisis 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.