The last five years have been boom years for research and have seen a bull market for physicists. Research in physics and its fruits are referred to daily in the press. Under the forced draft of military support, research budgets are many times their pre‐war values and they are still mounting. This stimulus has been as wisely applied as the best of judgment could devise, and the debt of physics to the Office of Naval Research, the Atomic Energy Commission, and other government support is appreciatively acknowledged in nearly every scientific paper to appear. The increase in the number of these research contributions is almost equally impressive; in 1945 the Physical Review printed about 6000 pages and in 1950 nearly 13,000.

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