Hacker News gave a link to the Software Preservation Group where they have a document FORTRAN - Backus et al - Preliminary Report (1954)
Been reading through it.
This is an extract:

It's probably worth a read though - interesting bit of history.
By the way, FORTRAN is alive and well - at the The Fortran Company.
Been reading through it.
This is an extract:
Quote
...Since FORTRAN should virtually eliminate coding and debugging, it shouldHmm.
be possible to solve problems for less than half the cost that would be required
without such a system. Furthermore, since it will be possible to
devote nearly all usable machine time to problem solution instead of only half
the usable machine time, the output of a given machine should be almost
doubled...

It's probably worth a read though - interesting bit of history.
By the way, FORTRAN is alive and well - at the The Fortran Company.








and it made it easier to put things back in order.




