Mannerisms

“I am calling for a strong new effort to marshall science and technology in the work of strengthening our economy and improving the quality of our life”, Nixon told the Congress, “and I am outlining ways in which the Federal Government can work as a more effective partner in this great work.”

Among ways in which the government could help were, said Nixon, the tax structure, patent law, procurement policies, regulation and anti-trust law.

Nixon advocated more active patent filing and licensing for government-owned inventions, and more extensive grants of exclusive patent rights to individual firms on promising technologies which have been left unused because of ant-trust fears, or fears of poor profit margins if developed by several firms.

He promised support through the National Science Foundation of Applied Research in Industry when it could help achieve national goals in science and technology.

And he proposed new legislation for a National science Foundation and National Bureau of Standards to find ways to stimulate private investment in R&D and applications.

Nixon asked Congress for $40m to help achieve these objectives and for a doubling to $20m of the limit on federal loans to small investment companies which are knowledgeable about technology.

“By fostering greater productivity, technological innovation can help us expand our markets at home and abroad, strengthening old industries, creating new ones and generally providing more jobs for the millions who will be entering the labour market”.

He added: “I am inviting other countries to join in research efforts in the United States.”

Now, 36 years later, another Republican president is proposing to double the tax venture capitalists pay when they realise their investments.