492 BELL SYSTEM TECHNICAL JOURNAL 



obtained while with loaded circuits a velocity perhaps half as great. 

 The non-loaded setup in particular would, therefore, provide circuits 

 whose velocity, like open-wire circuits, would be great enough to leave 

 no question of obtaining satisfactory conversations over any world- 

 wide telephone network. It is too early, however, to predict just 

 what the outcome of this development may be. 



