PREHEAT oven to 350°F. Lightly grease baking sheets.
COMBINE flour, cinnamon, baking soda and salt. Beat butter, honey and brown sugar in large mixer bowl until creamy. Beat in egg and vanilla extract. Add flour mixture alternately with milk. Stir in morsels, oats, walnuts, raisins and wheat germ. Drop by slightly rounded teaspoonfuls onto prepared baking sheets.
BAKE for 7 to 9 minutes or until light golden brown. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely. Store in tightly covered container.
Note: If not adding nuts to the recipe, some additional bake time may be needed.
Variation: 2 cups (12-oz. pkg.) NESTLE® TOLL HOUSE® Semi-Sweet Chocolate Morsels can be substituted for the Butterscotch Morsels.