In 1940, he ran for the United States Senate against Henrik Shipstead, an incumbent senator who defected from the Farmer Labor Party to join the Republicans.
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Olson appointed Benson state Commissioner of Securities before choosing him to replace Thomas D. Schall in the United States Senate after Schall's death in December 1935.
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He served as the 24th Governor of Minnesota from January 4, 1937, to January 2, 1939.
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After Olson's premature death from cancer in 1936 and the interregnum of Lieutenant Governor Hjalmar Petersen, Benson stepped into the breach and was elected the 24th Governor of Minnesota by the largest margin in state history.
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