As Roosevelt refused to commit to either retiring or seeking re-election during his second term , supporters of Wallace and other leading Democrats such as Vice President John Nance Garner and Postmaster General James Farley laid the groundwork for a presidential campaign in the 1940 election . After the outbreak of World War II in September 1939 , Wallace publicly endorsed a third term for Roosevelt . Though Roosevelt never declared his presidential candidacy , the 1940 Democratic National Convention nominated him for president . Shortly after being nominated , Roosevelt informed his supporters that he favored Wallace for the position of vice president . Wallace had a strong base of support among farmers , had been a loyal lieutenant in both domestic and foreign policy , and , unlike some other high-ranking New Dealers like Harry Hopkins , was in good health . However , due to his liberal stances and former affiliation with the Republican Party , many conservative Democratic party leaders disliked Wallace . Roosevelt convinced James F. Byrnes , Paul V. McNutt , and other contenders for the Democratic vice presidential nomination to support Wallace , but conservative Democrats rallied around the candidacy of Speaker of the House William B. Bankhead of Alabama . Ultimately , Wallace won the party 's vice presidential nomination by a wide margin over Bankhead
1940 Democratic National Convention
1940 Democratic National Convention
Henry A. Wallace