Why would a cabal of capitalists--conspirators of enormous wealth-- approach such a man? Because they knew veterans revered him; he never ordered anything done he would not do himself. Grunts, noncoms, and combat officers believed Butler was their friend. Forty times, envoys of Wall Street tried to persuade him to lead a coup d'etat.

The instigators wanted a putsch commander who could mobilize 500,000 soldiers overnight. These would make up a paramilitary force, to take form as the American Liberty League. Its pattern was a French veterans' group, the Croix de Feu. (The backers studied then rejected two other models of veterans' organization that fascists had used in taking power: Mussolini's blackshirts and Hitler's brownshirts.)

The reason for the plot was the election of President Franklin D. Roosevelt (FDR), a member of the same ruling circles as the cabal itself. March 5, 1933--the day after his inauguration--FDR embargoed the export of gold and declared a national bank holiday. He told the "Hundred Days Congress" to enact a New Deal into law. In striving against the Depression, FDR awakened hope in the American people, but he appalled bankers and industrialists. Who would pay for this New Deal? The rich feared changes to the US system of finance, a rise in taxes, possibly even (Heaven forbid!) socialism.

Rumours of the plot reached Washington, where the Committee on Un- American Activities (CUAA)--was already exposing fascist intrigues. Its cochairmen were John McCormack (D MA) and Samuel Dickstein (D NY). CUAA got in touch with Smedley Butler: did the general have anything to tell them? After prying out all the plans he could, Butler asked a friend, an experienced newsman, to confirm the whole incredible scheme. The reporter visited twice with an agent of the conspirators (a wounded Marine vet) and set down his findings.

Secret executive hearings of CUAA opened November 20, 1934. Sworn testimony showed that the plotters represented notable families --Rockefeller, Mellon, Pew, Pitcairn, Hutton; and great enterprises-- Morgan, Dupont, Remington, Anaconda, Bethlehem, Goodyear, GMC, Swift, Sun.... Some people named as plotters laughed, all denied everything.

"The reader who wishes to examine the official testimony is referred to the government report, `Investigation of Nazi Propaganda Activities and Investigation of Certain Other Propaganda Activities: Public Hearings Before the Special Committee on Un-American Activities, House of Representatives, Seventy-third Congress, Second Session, at Washington, DC, December 29, 1934. Hearings No. 73-D.C.-6, Part 1.' Extracts of the censored testimony are revealed in the books A MAN IN HIS TIME, by John L. Spivak [NY: Horizon Press, 1967], and ONE THOUSAND AMERICANS, by George Seldes [NY: Boni & Gaer, 1947]" (p 140).