The conservatives were interested in keeping their wealth and the New Deal would affect them directly as the government was going to tax them more and would implement programs for helping the poor. They also believe business could re-establish from the Great Depression without government regulations and interventions.
So the three main reasons for them to oppose the New Deal are:
The government should balance the budget but keep taxes low.
States should regulate their own affairs.
Businesses should regulate themselves without government oversight.
