1925 — Charles Dawes, Banker and later Vice-President of the United States:
The award was shared with J. Austen Chamberlain of the United Kingdom. Dawes developed and negotiated what was known as the Dawes Plan, a five year plan that reduced the burden of German payments for the damages done in World War I. This improved the economy of Germany and Europe after a period of ruinous inflation in Germany.
“Mediocrity requires aloofness to preserve its dignity.”
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