FROM THE OFFICE OF PUBLIC AFFAIRS

I was saddened to learn of the death yesterday of former Treasury Secretary Henry H. Fowler. Secretary Fowler served this Department with great distinction under Presidents Kennedy and Johnson, first as Under Secretary from 1961-64 and then as Secretary from 1965-68. His achievements were many, including his contribution to organizing a two-tier system for the gold market and to the creation of Special Drawing Rights as a supplemental reserve asset in the international monetary system. President Johnson appropriately called him "...the grand architect of the most significant reforms in the international monetary system since Bretton Woods." When he stepped down as Treasury Secretary, he left the nation with a budget surplus; the last annual budget surplus until 1998.

Secretary Fowler was at all times committed to the highest ideals of public service. United States and world economic and financial stability were greatly enhanced because of his dedication. We will miss him.

Our thoughts are with his wife and family.