Hilary Gomes

Written by Hilary Gomes

Published: 27 Dec 2024

37-facts-about-business-plot
Source: Washingtonpost.com

What was the Business Plot? The Business Plot was a supposed conspiracy in 1933 where wealthy businessmen allegedly planned to overthrow President Franklin D. Roosevelt and install a fascist government. This plot, also known as the White House Coup, involved prominent figures like Major General Smedley Butler, who claimed he was approached to lead the coup. Though the plot was never proven, it remains a fascinating chapter in American history. Skeptics argue it was a hoax, while others believe it was a genuine threat to democracy. Dive into these 37 facts to uncover more about this intriguing event and decide for yourself.

Key Takeaways:

  • The Business Plot was a real-life conspiracy to overthrow the US government in 1933, involving wealthy businessmen and military figures, highlighting the potential dangers of unchecked corporate power in a democracy.
  • Smedley Butler, a decorated Marine Corps officer, played a crucial role in exposing the Business Plot, showcasing the importance of whistleblowers in preventing abuses of power and the need for transparency in government and business.
Table of Contents

The Business Plot: An Overview

The Business Plot, also known as the White House Putsch, was a political conspiracy in 1933. Wealthy businessmen allegedly planned to overthrow President Franklin D. Roosevelt and install a fascist dictatorship. Let's dive into some intriguing facts about this lesser-known chapter in American history.

  1. The plot was revealed by retired Marine Corps Major General Smedley Butler, who claimed he was approached to lead the coup.

  2. The conspirators allegedly wanted to use a veterans' organization, the American Legion, to mobilize support for the coup.

  3. Butler testified about the plot before the House Un-American Activities Committee (HUAC) in 1934.

  4. The committee's final report confirmed Butler's testimony but downplayed the seriousness of the threat.

  5. Prominent businessmen implicated included leaders from J.P. Morgan, DuPont, and General Motors.

Key Figures in the Business Plot

Several influential individuals were allegedly involved in the conspiracy. Here are some key figures:

  1. Gerald C. MacGuire, a bond salesman, was one of the main intermediaries who approached Butler.

  2. Robert Sterling Clark, a wealthy banker and heir to the Singer Sewing Machine fortune, was another alleged conspirator.

  3. Grayson M.P. Murphy, a director of several major corporations, was also implicated.

  4. John W. Davis, a former Democratic presidential candidate, was rumored to be involved but denied any participation.

  5. Al Smith, a former New York governor and presidential candidate, was mentioned but not directly implicated.

Motivations Behind the Plot

Understanding the motivations behind the Business Plot helps to grasp why these individuals considered such drastic actions.

  1. The conspirators were opposed to Roosevelt's New Deal policies, which they believed threatened their wealth and power.

  2. They feared the rise of socialism and communism in the United States.

  3. The plotters wanted to establish a fascist government similar to those in Italy and Germany.

  4. They believed a military coup was the only way to save the country from economic collapse.

  5. The conspirators thought Butler's popularity among veterans would help legitimize their cause.

The Role of Smedley Butler

Smedley Butler played a crucial role in exposing the Business Plot. Here are some facts about his involvement:

  1. Butler was a highly decorated Marine Corps officer, having received two Medals of Honor.

  2. He was known for his outspoken criticism of U.S. military interventions and corporate influence in politics.

  3. Butler initially played along with the conspirators to gather evidence.

  4. He recorded conversations and collected documents to support his claims.

  5. Butler's testimony before HUAC was instrumental in bringing the plot to light.

The Aftermath of the Business Plot

The exposure of the Business Plot had significant consequences, both immediate and long-term.

  1. The HUAC report led to increased scrutiny of corporate influence in politics.

  2. No one was prosecuted for their involvement in the plot, leading to speculation about a cover-up.

  3. The incident contributed to the growing distrust of big business and the wealthy elite.

  4. The plot highlighted the potential dangers of unchecked corporate power in a democracy.

  5. The Business Plot remains a controversial and debated topic among historians.

Public Reaction and Media Coverage

The public and media response to the Business Plot was mixed, reflecting the complexities of the situation.

  1. Some newspapers dismissed the plot as a hoax or exaggeration.

  2. Others took the allegations seriously and called for further investigation.

  3. Public opinion was divided, with some viewing Butler as a hero and others as a troublemaker.

  4. The plot received renewed attention during the 1970s and 1980s, as more documents were declassified.

  5. The Business Plot has been the subject of several books, documentaries, and academic studies.

Legacy of the Business Plot

The legacy of the Business Plot continues to influence discussions about corporate power and political corruption.

  1. The plot is often cited as an example of the potential dangers of corporate influence in government.

  2. It serves as a reminder of the importance of vigilance in protecting democratic institutions.

  3. The Business Plot has inspired fictional works, including novels and films.

  4. It has been compared to other political conspiracies, such as the Watergate scandal.

  5. The plot underscores the need for transparency and accountability in government and business.

Lessons Learned from the Business Plot

Reflecting on the Business Plot offers valuable lessons for contemporary society.

  1. The importance of whistleblowers in exposing corruption and wrongdoing.

  2. The need for robust checks and balances to prevent abuses of power.

The Last Word on the Business Plot

The Business Plot remains one of the most intriguing episodes in American history. This alleged conspiracy to overthrow President Franklin D. Roosevelt in 1933 involved some of the most powerful businessmen of the time. Though the plot was never proven, it highlighted the intense political and economic tensions of the era. Major General Smedley Butler's testimony brought the plot to light, but it was dismissed by Congress. Whether a genuine threat or a misunderstood event, the Business Plot serves as a reminder of the lengths some might go to protect their interests. It also underscores the importance of vigilance in safeguarding democracy. While many details remain murky, the story continues to captivate historians and conspiracy theorists alike. Understanding this plot gives us a glimpse into the complexities of power, politics, and the American spirit.

Frequently Asked Questions

What exactly was the Business Plot?
In a nutshell, the Business Plot was a political conspiracy in 1933. Wealthy businessmen and financiers allegedly planned to overthrow President Franklin D. Roosevelt and install a dictator who would be friendly to their interests. This sounds like something out of a movie, but it was taken seriously enough at the time to warrant a congressional investigation.
Who uncovered the Business Plot?
Major General Smedley Butler, a highly decorated Marine Corps officer, brought the plot to light. He claimed that he was approached by representatives of the conspirators, who tried to recruit him to lead a coup against Roosevelt. Butler instead exposed the plot to the authorities, leading to a media frenzy and a congressional investigation.
Did the congressional investigation find any evidence of the Business Plot?
Yes and no. The congressional committee confirmed some of Butler's allegations but found no evidence of an actual plan to overthrow the government. Critics argue that the investigation was incomplete and that powerful interests could have influenced its outcome. So, while there was smoke, no one ever found the fire.
Were any of the alleged conspirators punished?
Nope, not a single person was prosecuted or punished in connection with the Business Plot. Despite the investigation confirming parts of Butler's testimony, it didn't lead to any legal actions against the supposed conspirators. This has fueled speculation and conspiracy theories about the plot for decades.
How did President Roosevelt react to the Business Plot?
Roosevelt was pretty tight-lipped about the whole affair. He didn't publicly comment much on the allegations or the investigation. Some believe he chose to focus on his New Deal policies instead, aiming to address the economic issues that could have made such a plot appealing in the first place.
Why is the Business Plot significant today?
This episode serves as a fascinating glimpse into a turbulent time in American history, highlighting the tensions between different economic and political forces. It's a reminder of the fragility of democracy and the lengths to which some will go to protect their interests. Plus, it's a great story for history buffs and conspiracy theorists alike.
How can I learn more about the Business Plot?
For those itching to dive deeper, there are several books and articles on the subject. Documentaries and podcasts have also covered the Business Plot, offering various perspectives on what happened. Libraries and online resources can provide a wealth of information for anyone curious about this intriguing chapter of American history.

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