In the real world a taper is just something to be made as specified on a drawing – given the dimensions and tolerances you just set the machine up , cut the taper and get the required result .
In production work parts with mating tapers were often made by different people , on different machines and at different times . Random samples would be checked against each other but the expectation would be for a perfect match each time .
( Odd exceptions for super precision work and for ' make and mend ' jobs where male and female tapers have to be matched on a one to one basis  
So for the simple taper needed for the Fenner device just decide what the taper actually should be , set up for inside or outside turning as appropriate using either a parallel bit of the work or a test bar and a dial gauge and cut the taper .
On some other day set up for the mating taper – doesn't matter if its ten years later – if both mating tapers are to required dimensions and tolerance they will fit properly .
Easiest way to specify a taper for home workshop machining is simply as one reference diameter ( typically large end or small end – but needn't be ) and taper given as difference in radius (optionally diameter) per inch travel .
Tolerances for Morse tapers are biased opposite ways round for male and female tapers so that worst – worst case still gives satisfactory matching . This is a good principle to follow but you could use simple tolerancing for the actual job in hand .
Nobody will believe this but a perfectly fitting no2 Morse taper can be cut perfectly first time on a rattly old ML7R just by setting up as described above .
Michael Williams .
PS: Be aware that male and female tapers which are cut at the same setting are not nescessarily going to be exactly matching – all those factors which cause so many people problems of erratic and non parallel turning will be acting twice over and possibly in opposite directions when cutting tapers this way .