Try this idea:
The impetus for the rise of Hitler was the problem Germany had making reparations to France. Hitler was able to use the Jews as scapegoats because of Jewish families in control of large international (supernational, in today's terms) banks. Then, even as now, these multinational corporations owed loyalty to no country. The fact that most Jews in Germany and elsewhere in Europe were merely middle-class people who had no connection with international banking was overlooked in political expediency.
The United States emerged from WWI relatively unscathed. Our economy was unravaged. Aside from a short wave of trumped-up anti-German hysteria to fuel the war effort, Americans harbored no long-standing grudges against Germany. As Werner has pointed out, roughly half the American population was of German descent.
The money that Germany "owed" France as reparations would take years to repay, and cause the hardship in Germany that led to the rise of the Nazis, or possibly even worse, the rise of the Communists. One wonders
what the reaction of the French would have been to a Communist-dominated Germany. France was the birthplace of Communism, and has traditionally cast a blind eye to its excesses, as long as those Communists were at a safe distance. For all of France's Socialist claptrap, I think they would have found the Nazis less threatening.
Applying a modern-day solution to the problem, how about France selling its German war debt to the United States? This would have solved several problems.
France was in bad economic shape, German war reparations notwithstanding. She had suffered (as had Germany, and Britian to a lesser extent) the loss of an entire generation of young men. Resources that could have been put to better use tending her empire were expended on the war.
The United States, flush with money and entering the booming 1920's, could have bought this debt at a discount to enable France to get all the money up front. Being in better financial condition, and not being a hotbed of anti-German sentiment, the US could have extended better terms of repayment to Germany, maybe even forgiven some of the debt.
This may have lessened the appeal of the Nazis and Communists to the German people. The resulting lack of impetus to re-armament by aiding the Wiemar Republic may have prevented WWII in Europe alltogether.
The money saved alone would have justified going easy on Germany.
The United States was not a member of the League of Nations. We were free to make our own deals with whoever we wanted to. We could have used our new position as the new creditor to Germany to become a major trading partner with a democratic Germany. When Germany felt the need to eventually re-arm, they could have done so with American-built ships.
Everything would be fine in Europe.
Now, if we could just have figured out how to deal with those pesky Japanese.....
