DBWI: Theodore Roosevelt Jr. Doesn't run in 1932

As many of you know, after the disastrous Herbert Hoover presidency, Theodore Roosevelt Jr. defeated the incumbent during a primary race by a moderate amount. Roosevelt went on to barely win the election against Garner. What would happen if he didn't even run?
 
Well, the Marx Brothers wouldn't have made that film that the message of "Teddy Jr. is POTUS and his cousin's the Governor of New York" written in skylights.
 
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