System for automatic value exchange;

              Touche, Ross started work on the concept described
in this article in 1962 as a result of the research that
went into Richard Sprague's book, Electronic Business
Systems and Jesse Lynch's work on bank customer serv­ices.
This culminated in the presentation of the SAVE
concept at the Bank Presidents' Conference, January 31,
1966.
It is the opinion of our firm that this is a compelling
idea which must be considered in some depth in the
long-range planning of large financial institutions, re­tailers,
computer manufacturers, and many other organi­zations.
We do not say that the SAVE concept is inevitable
or that it will emerge within any specific period of time.
We recognize it as an idea which may have far-reaching
effects on our entire economy and which may be one of
the most revolutionary ideas of this decade.
We take great pride in having been one of the major
contributors to the development of this concept.
A System i
for Automatic:
Value Exchange
by Richard E. Sprague
THE QUARTER^