From
Wrath of the Archangel: The Gabriel Plot of 1937, Stephen E. Ambrose, 1984, Philadelphia Press:
It is strange to consider the events which led up to the Gabriel Plot of 1937. Today, one might say that it was inevitable, that the ideals of Social Populism were totally incompatible with America's heritage as a near oligarchy. This is not to say that Long was any more democratic than the titans of industry who ran for and became president, but it is true to say that the feeling to "Share Our Wealth" was a novel one, that was not unfairly implemented...
The discerning reader will probably notice that Morgan, Hearst, and MacArthur did not effect their attempted coup until nearly two months into Long's first term, and he may wonder why this was...
Long certainly had fascist tendencies, rather more like Mussolini, Salgado, or Chiang Kai-Shek than a madman like Hitler. However, Long was not at all the corporatist slave that other fascists were, and, in this, I do not even think one should call him a fascist. Long was incredibly true to his code of honor, his ideals, and he must be commended for that. He was one of the few politicians, pre- or post-Rebirth, to actually stand by his campaign promises, which were certainly more than "getting elected," as Will Rogers once put it...
Put simply, the only reason for the wait was that J.P Morgan and Hearst were hoping in vain that Long would "see reason" and embrace the love and support of the corporations. They saw it possible that he would discard his populism, and create a corporate utopia. It may seem ridiculous today, but it is true.
From the text of Executive Order 8034, (sometimes called the Capacitation Act of 1937):
By virtue of and pursuant to the authority vested in me as President of the United States, I do hereby suspend certain constitutional rights for those guilty of conspiring against the rightfully-held office of President of the United States. This measure is put into force to protect the lawful citizens of the United States from those who would see the nation destroyed.
From hereon, I do suspend the 4th Amendment temporarily, the right against unreasonable search and seizure, as those who have conspired against this office have every power and capability to distance themselves from any and all possible accusations that they are, in truth, guilty of. I also suspend those amendments dealing with the judiciary, those being the 5th, the 6th, and the 7th. This is, again, to justly punish those who are known to be guilty, but, through the unjust virtue of their personal wealth, are able to acquit themselves. Under this measure, all witnesses are required to speak whatsoever they know about the questions asked, and trial by jury will be replaced, in matters of importance, with an impartial tribunal of 12 legal experts. In addition, legal assistance may be suspended from those known to be guilty.
I hereby authorize this measure.
The White House,
May 11th, 1937.