His choice aimed to ensure the continuity of the economic and financial policy, of austerity and containment of resources for coffee farming, while representing a break in the traditional relay between São Paulo and Minas Gerais in the presidency.

Aiming to make its action more concrete, the opposition formed, at the beginning of August, the Liberal Alliance under the leadership of president Minas Gerais Afonso Pena Júnior and vice-president Gaucho Ildefonso Simões Lopes.

[1] On September 20, at a convention held in Rio de Janeiro, the Liberal Alliance approved the Vargas-Pessoa ticket and its electoral platform, written by Lindolfo Collor.

Declaring political reform to be essential, he defended popular representation through secret voting, Electoral Justice, the independence of the Judiciary, amnesty for revolutionaries of 1922, 1924 and 1925–27 and the adoption of protectionist economic measures for export products other than coffee.

In the same year, a more radical current, formed by young politicians such as João Neves da Fontoura, Oswaldo Aranha and Virgílio de Melo Franco, began to consider an armed movement in the event of defeat at the polls.