Anonymous ID: 357c43 Jan. 12, 2021, 12:57 a.m. No.12478468   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun

>>12478460

https://en.wikipedia.org/wiki/Business_Plot

 

Business Plot

 

The Business Plot (also called The White House Putsch)[1] was an alleged political conspiracy in 1933 in the United States. Retired Marine Corps Major General Smedley Butler asserted that wealthy businessmen were plotting to create a fascist veterans' organization with Butler as its leader and use it in a coup d'รฉtat to overthrow President Franklin D. Roosevelt. In 1934, Butler testified before the United States House of Representatives Special Committee on Un-American Activities (the "McCormackโ€“Dickstein Committee") on these revelations.[2] No one was prosecuted.

 

At the time of the incidents, most major news media dismissed the plot, with a New York Times editorial characterizing it as a "gigantic hoax."[3] Most agree that some sort of plot was discussed by General Butler; they disparage his contacts as unreliable.[4][5][6][7]

 

Butler and the veterans

On July 17, 1932, thousands of World War I veterans converged on Washington, D.C., set up tent camps, and demanded immediate payment of bonuses due to them according to the World War Adjusted Compensation Act of 1924 (the original act made the bonuses initially due no earlier than 1925 and no later than 1945). Walter W. Waters, a former Army sergeant, led this "Bonus Army". The Bonus Army was encouraged by an appearance from retired Marine Corps Maj. Gen. Smedley Butler; as a popular military figure of the time. A few days after Butler's arrival, President Herbert Hoover ordered the marchers removed and U.S. Army cavalry troops destroyed their camps under the command of Gen. Douglas MacArthur.

 

Butler, although a self-described Republican, responded by supporting Franklin D. Roosevelt in the 1932 US presidential election.[8] By 1933 Butler started denouncing capitalism and bankers, going on to explain that for 33 years he had been a "high-class muscle man" for Wall Street, the bankers and big business, labeling himself as a "racketeer for Capitalism."[9]

 

Reaction to Roosevelt

Roosevelt's election was upsetting for many conservative businessmen of the time, as his "campaign promise that the government would provide jobs for all the unemployed had the perverse effect of creating a new wave of unemployment by businessmen frightened by fears of socialism and reckless government spending."[10] Some writers have said concerns over the gold standard were also involved; Jules Archer, in The Plot to Seize the White House, wrote that with the end of the gold standard, "conservative financiers were horrified. They viewed a currency not solidly backed by gold as inflationary, undermining both private and business fortunes and leading to national bankruptcy. Roosevelt was damned as a socialist or Communist out to destroy private enterprise by sapping the gold backing of wealth in order to subsidize the poor."[11]