Note from JWR:

It was 90 years ago today that an international commission led by Charles G. Dawes was established to investigate the German economy, which was still in throes of the Weimar Republic hyperinflation. Dawes was the man who had planned Germany’s painful war reparations. (Which of course were part of what triggered the hyperinflation.) He would soon be Vice President, serving under Cal Coolidge. Dawes had a second life as a well-known music composer. He was also co-recipient of the Nobel Prize.