Linguistic phenomenalism asserts that statements about physical objects are equivalent in meaning to claims about actual and possible sensations. Like the T. rex, it represents both the pinnacle and the last gasp of an old and prominent lineage. Or so the story goes. I contend that though it may have failed in execution, linguistic phenomenalism contained the germ of a viable empiricist semantics. I call this empiricist theory of meaning 'Semantic Phenomenalism' -- or SP -- to distinguish it from its evolutionary predecessors.