Word: fowlers
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...Fowler & The Dollar...
...That was a splendid cover story [Sept. 10] on Henry Fowler, a very dedicated man and one who is tops in his field...
...thus insuring an increased supply of money and credit. It has been against many of the details of both the Triffin plan and the French cru because both would completely displace the dollar in international trade, but it is now coming around to the idea of an international currency. Fowler insists that any new currency must supplement?and not supplant?the dollar and the pound. The dollar must maintain its position as the world's most important currency, cannot be devalued, must keep its role as a currency used in reserves. In his talks with Giscard d'Estaing, Fowler said...
...France and its Continental allies want to work any reform through the Group of Ten's powerful industrial nations, in which the U.S. has membership but the Continentals collectively have the greatest voice. The Continentals would thus like to keep reform a club affair not involving the underdeveloped nations. Fowler indicated last week that the U.S. may be warming to the idea of reform through the Group of Ten?but it would still prefer the IMF. In a book published this week, Monetary Reform for the World Economy, former Under Secretary of the Treasury Robert Roosa speaks...
...Roses. Cautious Joe Fowler favors evolutionary change, working through existing machinery rather than rushing to embrace radical ideas. "There are plenty of reform plans floating around," he says. "The problem is to find an acceptable one. I don't expect that my path will be strewn with roses." Negotiations toward any change will be hard, and agreement will be long in coming, but Fowler's trip to Europe has already heightened a new spirit of compromise and led to a general agreement among the money managers that