Well-Earned Raise

The 17,000 U.S. banks that struggle to keep track of some 18 billion ration points a month got a well-earned boost last week. For eight months they have operated "checking accounts" for U.S. retailers, who deposit their ration coupons periodically, then draw upon them to replenish their stocks. But although OPA is paying the banks some $12,000,000 a year for their pains, most of them arestill losing money on their deal with the Government. Last week, therefore, OPA raised their fees for opening and handling accounts by about 25%, to somewhere nearer the break-even point for the average bank.

Ration-banking at any price is a nuisance to most banks. What they look forward to is the day when OPA's plans for ration tokens materialize. These red and blue glass or plastic change coins are expected to eliminate three-quarters of the coupon handling now required. OPA hopes to have its tokens in consumers' hands by year's end, to coincide with the use of ration book No. 4. If the tokens work out well (one big hitch is how to make things tough for counterfeiters), book No. 4, with nothing but multiple-point stamps, might last for the duration.

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