What treaty was considered a precursor to the Young Plan by further reducing Germany's reparations?

The Dawes Plan is recognized as a precursor to the Young Plan because it specifically aimed at restructuring Germany's reparations payments from World War I. Established in 1924, the Dawes Plan provided a more manageable payment schedule for Germany, allowing for the adjustment of reparations based on the country's economic recovery, which had been severely impacted by the post-war climate. This plan not only reduced the total reparations but also facilitated loans from the United States to help stabilize the German economy.

The Young Plan, introduced in 1929, built on the framework of the Dawes Plan by further reducing the total amount of reparations and extending the payment period. Thus, the Dawes Plan was fundamental in initiating the process that would eventually lead to the modifications in war reparations outlined in the Young Plan.