Post-WW1 America allows Entente debtors to renegotiate debts?

So, a common factor I've seen cited in the breakdown of French/British military readiness and general cooperation between the WW1 powers is America's refusal to lessen the principal or soften the terms of the loans made to the Entente powers. Is it possible that that could have been avoided, perhaps with a different president in 1920? And if it's not totally ASB, what would the ripples be from that? Perhaps a lessening of the debt crisis in Germany as well?
 
Re: Dawes Plan: https://www.britannica.com/event/Dawes-Plan

Young Plan: https://www.britannica.com/event/Young-Plan

The, first completed in 1924, was a effort led by the US to temporarily rationalize the reparations demands of the Versailles Treaty. The second, set in 1930, further adjusted the reparations payments to fit with the reality of the 1920s global economy. Both eased the strain on the German economy, giving business and national leaders a better long term basis for planning than the politically designed Versailles Treaty. The global economic slump that arrives just as the Young Plan was written in 1929 rendered all these efforts useless in the short term view of 1931.

The Dawes & Young Plans were part of a effort by the US bank & business leaders to resolve a variety of post Great War economic trends relating to Europe.

... America's refusal to lessen the principal or soften the terms of the loans made to the Entente powers. ...
Rationalizing the Reparations was supposed to assist directly the Entente governments in repaying war loans, and indirectly by allowing a faster European recovery to the pre 1914 economic strengths. Within US banks and industry there was a reluctance to lessen interest or principle. For a variety of reasons the economy of the US 1920s was bubble as much as boom. While business/banking leaders did not understand all the problem they did see that a substantial reduction in loan payments from Europe would substantially weaken the US banks & their investors. At a voter level there were several things working against this. One was the 'story' of the Great War as a product of the Merchants of Death, mega businessmen who profited obscenely from manufacturing munitions ect... A variation of that was the benefactors were the "Jewish bankers". Another was the narrative of the GW being a European set of bad decisions. 'They f...ed it up they can stop whining and pay.' Theres a number of other similar stories. ...and there were other economic factors that at the time were seen as making the loan payments important to the US economy

I would note that in 1939 both Britain and France had substantial reserves of gold, sterling, and foreign currencies & were well recovering fro the Depression. Conversely the US was not as well off in terms of financial reserves, unemployment, industrial output ect... So perhaps the loan payments were not as crippling as has been argued by some folks.
 
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I would note that in 1939 both Britain and France had substantial reserves of gold, sterling, and foreign currencies & were well recovering fro the Depression. Conversely the US was not as well off in terms of financial reserves, unemployment, industrial output ect... So perhaps the loan payments were not as crippling as has been argued by some folks.
And this despite the foolish decision of the British and French to allow Hitler to end the reparations and begin a massive arms buildup. If the Anglo-French had taken the attitude of "Well Herr Hitler, you have money for arms so you have money to pay off your debts" and blockaded him, their economies would have been in far better shape

To the OP: Given that the Entente loans were private affairs, they wouldn't be renegotiated but refinanced. If British and French credit had revived after the war so they could borrow more cheaply, they would have taken out new loans and used the proceeds to pay off the old ones. Even in the depths of the Great Depression, European living standards are better than they were in the 1910's. The economic burden of reparations and debt repayments was fast shrinking
 
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