Why Is So Little Known About the 1930s Coup Attempt Against FDR?

 

‘…The putsch called for… a massive army of veterans – funded by $30m from Wall Street titans and with weapons supplied by Remington Arms – to march on Washington, oust Roosevelt and the entire line of succession, and establish a fascist dictatorship backed by a private army of 500,000 former soldiers.

 

…[T]he coup was instigated after FDR eliminated the gold standard in April 1933, which threatened the country’s wealthiest men who thought if American currency wasn’t backed by gold, rising inflation would diminish their fortunes. …[T]he coup was sponsored by a group who controlled $40bn in assets – about $800bn today – and who had $300m available to support the coup and pay the veterans. The plotters had men, guns and money – the three elements that make for successful wars and revolutions.

 

…The planned coup was thwarted when …reported… to J Edgar Hoover at the FBI, who reported it to FDR. How seriously the “Wall Street putsch” endangered the Roosevelt presidency remains unknown, with the national press at the time mocking it as a “gigantic hoax” and historians like Arthur M Schlesinger Jr surmising “the gap between contemplation and execution was considerable” and that democracy was not in real danger. Still, there is much evidence that the nation’s wealthiest men – Republicans and Democrats alike – were so threatened by FDR’s policies that they conspired with antigovernment paramilitarism to stage a coup…’

— via Getpocket

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