Smedley Butler and the 1930s Plot to Overthrow the President

https://www.arcadiapublishing.com/Navigation/Community/Arcadia-and-THP-Blog/September-2018/Smedley-Butler-and-the-1930s-Plot-to-Overthrow-the

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In 1934, a colossal claim reached the American news media: There had been a plot to overthrow President Franklin D. Roosevelt, in favor of a fascist government. Supposedly in the works since 1933, the claims of the conspiracy came from a very conspicuous and reliable source: Major General Smedley Butler, one of the most decorated war heroes of his time. Even more unbelievable were his claims of who was involved in the plot – respected names like Robert Sterling Clark, Grayson M.P. Murphy, and Prescott Bush. While news media at the time mocked Butler’s story, recently discovered archives have revealed the truth behind Major General Butler’s claims.

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The abandonment of the gold standard was a major sticking point for many high-ranking officials and bankers in the country during 1933. Although there were several recognized issues with money backed by gold (such as dependency on gold production, and short-term price instabilities), many bankers were fearful that their gold-backed loans would not be paid back in full by the President’s new policies.

The departure from the gold standard just added to other concerns about FDR’s policies, particularly his plans to provide subsidizations and jobs for the poor, which businessmen and conservative politicians alike took as an indication of Roosevelt's socialist leanings, or (even worse) a communist. Butler could sense this disgruntlement when he asked to meet with MacGuire’s superior, and found himself speaking with Robert Sterling Clark, an heir to the Singer Sewing fortune. Clark was much more upfront than MacGuire, telling Butler that his real interest was in preserving the gold standard, even claiming that he “had $30 million, and was willing to spend half of the $30 million to save the other half.”

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These various observations led MacGuire to believe that the only way to save the country from FDR’s “ill-fated” policies was to create a military state run by former servicemen, with Roosevelt serving as a figurehead, rather than a true leader. Butler asked what MacGuire wanted from him, and was told he would be the ideal leader of these veterans, promising him an army of 500,000 men and financial backing from an assortment of rich businessmen, so long as he would be willing to lead a peaceful march on the White House to displace Roosevelt.