Busch held the reins of government until 22 May when Colonel David Toro arrived from the Chaco and assumed the presidency under a military junta supported by the army, organized labor, and the United Socialist Party.

The traditional political class which had ruled the country for half a century, and which Tejada Sorzano was a part of, saw its support evaporate as veterans returned to civilian life seeking a change in the status quo.

Tejada Sorzano faced discontent from both the military and the civilian populace as well rapidly rising inflation as a result of the Chaco War and the Great Depression.

The inability of the traditional parties to deal with the rising political tensions has been attributed to their failure to coalesce in the face of the rapidly unifying social movements.

Finally, the FOT, led by labor activist Waldo Álvarez, sent an ultimatum to the government demanding free importation of basic necessities, the 100% increase in wages, the reduction of rent, the prohibition of work night, the suspension of the state of siege, guarantees for freedom of assembly, association, press and union organization, home for the maimed and disabled of war, and work for ex-combatants.

[2] The strikes, supported by the FOT and the FOL, also received the endorsement of the newly established United Socialist Party (PSU) bringing a more radical left-wing element to them.

The Liberals had actually lost a component of their coalition when on 4 February the Socialist Republicans, seeing the writing on the wall, jumped ship, signing a "pact" with the PSU against the government.

The president would later claim that at the time of the coup he had been "sleeping tranquilly in my private residence, when at about 7:30 in the morning I was awoken by the caretaker of my children who told me that at the front door there were some civilians and soldiers who said to look for me.

He is quoted as having told one of the soldiers to "Tell Colonel Busch, without misrepresenting my words, that I have not ceased to praise his chivalry and military prowess and that I deplore for him that he has been placed in this situation."

[2] A civil-military junta was put in place which appointed Germán Busch provisional president until Colonel David Toro could return from surveying troop disarmament in the Chaco.

[4] The following day, the unions ordered that "all employees, workers in commerce, industry, banks, railways and transport, return to their respective jobs immediately."

On the same day, a decree was issued granting broad amnesty to all those prosecuted, confined and exiled for political crimes while the state of siege and restrictions on the press were lifted.