Myth and Reality in Business Support for Democrats and Republicans in the 1936 Presidential Election

Using campaign contributions by business leaders as an indicator of their political preferences, this paper tests two different claims concerning the 1936 presidential elections: (1) Business leaders in mass-consumption industries differentially favored the Democrats for reasons of economic policy; and (2) business leaders in capital-intensive and internationally oriented industries differentially favored the Democrats for reasons of economic policy. The paper shows that in the 1936 election no industrial sector was more likely to support the Democrats when region, religion, and the special circumstances of the brewing industry (gratitude toward the Democrats for ending Prohibition) are taken into consideration. Democratic financial support came predominantly from southerners, members of the Jewish community, officers and directors of smaller businesses, and top-level business leaders from New York City.