Word: fowlerize
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...years, one inevitable consequence will be less dependence on the dollar and more reliance on other forms of finance?a development the U.S. would welcome. The dollar will no longer be almighty in the sense that it is called upon to do the whole world's work. But neither Fowler nor anyone else in the Administration intends to concede an inch (or a penny) when it comes to the dollar's basic value and its power to move freely around the globe. The dollar will remain the world's most potent money, as befits the currency of the world...
...When he was a teen-ager in Roanoke, Va., Fowler got the nickname from a Greek immigrant restaurant owner who had trouble with any Anglo-Saxon name except that one. The handle stuck...
...Treasury. "Improvement of the monetary system," says "Joe"* Fowler, "is the major task facing the finance ministers of the free world." Two months ago, Fowler called on financial leaders to convene?at a time to be negotiated?the greatest monetary meeting of the postwar era. Last week, in his first journey abroad as Treasury Secretary, he jetted through the major capitals of Europe in an effort to push that meeting and to sell the idea of reform to the men who manage Europe's money. Accompanied by a distinguished delegation that included Under Secretary of State George Ball and Under...
...director and defender of the powerful dollar?"Mr. Dollar" himself?Fowler assumes a certain primacy among the West's clubby and powerful group of money managers. The U.S., after all, holds 33% of the free world's gold, accounts for 15% of its international trade and produces almost half of its industrial goods. Nonetheless, Europe's conservative finance ministers and central bankers felt that Fowler's proposal for a reform conference was rather brash for a newcomer?particularly one who had not consulted them in advance. They waited with considerable curiosity to meet this newest member of their club...
...they met last week is a courtly but outgoing Virginian who acts, talks and looks quite a bit like a country lawyer. Unlike his sophisticated predecessor, Douglas Dillon, who was highly regarded in Europe, Fowler speaks no foreign language and is not notably experienced in the arcane affairs of international finance. In a job whose occupants in past years have often been men of wealth, he is of modest middle-class means. His surprise appointment April 1 was a disappointment to many financiers in the U.S. and abroad who had hoped for a man more in the Dillon mold. What...