Microfinance and poverty[ edit ] Financial needs and financial services. In developing economies and particularly in rural areas, many activities that would be classified in the developed world as financial are not monetized: This is often the case when people need the services money can provide but do not have dispensable funds required for those services, forcing them to revert to other means of acquiring them. Common substitutes for cash vary from country to country but typically include livestock, grains, jewelry and precious metals.
Background[ edit ] Butler and the veterans[ edit ] Shacks, erected by the Bonus Army on the Anacostia flats, burning after being set on fire by the US military Main article: Watersa former Army sergeant etc business report, led this " Bonus Army ". Smedley Butler; as a popular military figure of the time, Butler had some influence over the veterans.
Army cavalry troops under the command of Gen. Douglas MacArthur destroyed their camps. Butler, although a self-described Republicanresponded by supporting Franklin D.
Roosevelt in the US presidential election. They viewed a currency not solidly backed by gold as inflationaryundermining 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.
On November 24 the committee released a statement detailing the testimony it had heard about the plot and its preliminary findings. On February 15,the committee submitted its final report to the House of Representatives.
MacGuire attempted to recruit him to lead a coup, promising him an army ofmen for a march on Washington, DCand financial backing. Given a successful coup, Butler said that the plan was for him to have held near-absolute power in the newly created position of "Secretary of General Affairs", while Roosevelt would have assumed a figurehead role.
Those implicated in the plot by Butler all denied any involvement. MacGuire was the only figure identified by Butler who testified before the committee. Others Butler accused were not called to appear to testify because the "committee has had no evidence before it that would in the slightest degree warrant calling before it such men The committee will not take cognizance of names brought into testimony which constitute mere hearsay.
Spivak published the first of two articles in the communist magazine New Massesrevealing portions of the Congressional committee testimony that had been redacted as hearsay. Spivak argued that the plot was part of a "conspiracy of Jewish financiers working with fascist groups", referring specifically to Felix Warburgthe McCormack—Dickstein Committee, and certain members of the American Jewish Committee in collusion with J.
Hans Schmidt concludes that while Spivak made a cogent argument for taking the suppressed testimony seriously, he embellished his article with his "overblown" claims regarding Jewish financiers, which Schmidt dismisses as guilt by association not supported by the evidence of the Butler-MacGuire conversations themselves.
His attending doctor at the hospital attributed the death to pneumonia and its complications, but also said that the accusations against MacGuire had led to his weakened condition and collapse which in turn led to the pneumonia.
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He stated that they offered to get hundreds of supporters at the American Legion convention to ask for a speech. Around August 1, MacGuire visited Butler alone.
Clark when he was a second lieutenant in China during the Boxer Rebellion.
Clark had been nicknamed "the millionaire lieutenant". On November 20 the Committee began examining evidence. This committee has had no evidence before it that would in the slightest degree warrant calling before it such men as John W.
The committee will not take cognizance of names brought into the testimony which constitute mere hearsay. This committee is not concerned with premature newspaper accounts especially when given and published prior to the taking of the testimony. As the result of information which has been in possession of this committee for some time, it was decided to hear the story of Maj.
Butler and such others as might have knowledge germane to the issue. The Congressional committee final report said: No evidence was presented and this committee had none to show a connection between this effort and any fascist activity of any European country.
There is no question that these attempts were discussed, were planned, and might have been placed in execution when and if the financial backers deemed it expedient. This committee received evidence from Maj. Butler retiredtwice decorated by the Congress of the United States.
He testified before the committee as to conversations with one Gerald C. MacGuire in which the latter is alleged to have suggested the formation of a fascist army under the leadership of General Butler. MacGuire denied these allegations under oath, but your committee was able to verify all the pertinent statements made by General Butler, with the exception of the direct statement suggesting the creation of the organization.
This, however, was corroborated in the correspondence of MacGuire with his principal, Robert Sterling Clark, of New York City, while MacGuire was abroad studying the various forms of veterans organizations of Fascist character.Annual Securities Report, etc.
These are English translations of the Annual Securities Report and the Quarterly Report filed with the Director of the Kanto Local Finance Bureau via Electronic Disclosure for Investors’ NETwork ("EDINET") pursuant to the Financial Instruments and Exchange Act of Japan.
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