Armed with French’s mutual testimony, Butler appeared before the McCormack-Dickstein congressional committee, also known as the Special Committee on Un-American Activities, to reveal what he knew about the plot to seize the presidency in November 1934. The committee at first discounted a large part of Butler’s testimony (even writing in their initial report that they saw no reason to subpoena men like John W. Davis, a former presidential hopeful, or Thomas W. Lamont, a partner with J.P. Morgan & Company).
However, with the testimony of French, and the erratic testimony of MacGuire, the committee began to further investigate the plot. The final reports of the committee sang a different tune, finding that all of Butler’s claims could be corroborated as factual. However, they also stressed that the plot was far from being enacted, and it was not clear if the plans would have ever truly come to fruition.
Quickly becoming known as the “White House Coup” and “Wall Street Putsch,” many major news sources derided Butler’s claims, as the committee’s final report was not made available publicly. Those implicated, ranging from the DuPont family to Prescott Bush, the grandfather of future President George W. Bush, laughed off Butler’s claims. Evidence of the validity of Butler’s testimony was not released until the 21
st century, when the committee’s papers were published in the Public Domain. No one was ever prosecuted in connection to the plot.