Yes, it's a drawknife. It is NOT a spokeshave. A spokeshave looks like one of these:

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In general, drawknives are used for rough work, and spokeshaves for fine, although, with a little practice, it's possible to do surprisingly delicate work with a drawknife.
Fulton is a second line for Sears. I don't know much about it; my impression is that the steel wasn't great, but you might find it a fine tool. Sharpen it up and use it.
A couple of comments:
1. Some people sharpen a microbevel on the back side of the bevel. I've never done that, but those who do argue that you get more control. Don't know.
2. The commonest method of sharpening is to hold one handle in your hand with the other against your chest, and run a stone over the bevel, using a large enough stone that your fingers are out of danger.
3. For rough work, say removing chips to make a bevel on a garden post, hold it with the bevel up and the handles slightly down and pull it in short, choppy motions to raise a chip with you then kind of chop off with the knife. I sometimes even do that karate "huhh! huhh!" thing.
4. For smoothing, let your mind calm, and stroke the knive (again, bevel up) along the wood as if it were a chisel, shaving off small shavings.