Word: fowlerize
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...many books on proper English usage already exist-Strunk, Fowler, Jespersen, Evans, Mencken-that the appearance of yet another is a case of meeting an unfelt need. One dependable authority in this field, like one telephone company, should be enough, and the English-speaking world has had one since British Lexicographer Henry...
Bonds. Johnson disclosed Treasury plans to sell a new savings certificate to individuals. Treasury Secretary Henry Fowler said that the new certificate will offer a "much higher rate of interest" than the 4.15% paid on present savings bonds. But buyers may have to hold the certificates for 18 to 24 months, as against the minimum 60 days required on Series E savings bonds. Final details on what Fowler called the Treasury's "more attractive product line" will be announced in November, and the notes will be issued next year. It is expected that the certificates will augment, not substitute...
Four years ago, when he was Under Secretary of the Treasury, Henry H. Fowler argued forcefully for congressional approval of the investment tax credit; by this means, businessmen could deduct from their corporate tax return 7% of the cost of new equipment. Since its introduction, the credit has meant $8 billion in savings for business, and it has helped spur capital spending from $37.3 billion in 1962 to an estimated $60.9 billion this year...
...recently as last February, Secretary of the Treasury Fowler still felt the same way. He urged the Senate Finance Committee not to tamper with the capital investment tax credit. "We feel," he said, "the investment credit is a sound, long-range measure in that its basic purpose was to produce an incentive to increase productive capacity. An increase of productive capacity, and an increase in supply, is one of the best answers to increased demand or inflationary tendencies...
Feeling Foxed. Remembering Fowler's words, many businessmen felt foxed last week when President Johnson cited "an exaggerated boom in business investment" and included a 16-month suspension of the credit among his emergency anti-inflationary measures. "A mistaken choice of remedies," said U.S. Steel's Chairman Roger Blough...