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Pauli writes about the connection of renormalization with power series expansion. He makes some remarks on the difficulties of meson theories and on mathematical formulation of fundamental laws of nature. He adds some remarks on his mathematical background.

About Harold Bohr's death and birth of Aage Bohr's child.

Pauli thanks Kronig and his wife for their hospitality.

In this letter Pauli raises the question whether Gibb's variation of thermodynamical functions preceeded Planck's work or not.

Pauli was glad to have Bohr's recent letter and was particularly glad to hear that part II of the joint paper by Bohr and Rosenfeld made such good progress. However, he goes on to say that "there is one important point regarding the consequences of the quantum-electrodynamical formalism for charge- (and current-) fluctuations (positron-theory) on which he cannot agree with you: according to my opinion Heisenberg was entirely right in his claim of unsharp limitations of either the space or the time domain in which the charge (or current) fluctuation is considered in contrast to the case of energy (and momentum) fluctuation of the radiation (where a sharp limitation of the space-time region is sufficient to guarantee a finite value of the square of the mean value of the field strenght over this domain)". The letter also contains other scientific problems.

Pauli writes on his meeting with Fierz in Basel.

Pauli thanks Bohr for his last letter and for the enclosed page by Rosenfeld, which he is now returning. He agrees that there is an elementary error on this page, which he explains further.

Pauli writes on the problem of relativistic invariant regularization and Stückelberg's view on it.

Pauli makes more remarks about Schwinger's theory.

Pauli has waited quite a while since receiving Bohr's letter of February 8, because he hoped to be able to say something on Schwinger's answer to his long letter. Pauli did not receive any answer. One of Schwinger's pupils contacted Pauli, from which he has the impression that Schwinger takes the matter seriously. Meanwhile Pauli and Villars have completed the calculations mentioned at the end of of Pauli's letter to Schwinger. He has almost no doubts on the correctness of his results for the electron magnetic moment, although the argument is somewhat different from his own. Villars and Pauli will send a joint paper with all their calculations to the Einstein issue of the Rev. of Mod. Physics which is edited by Pais. He also says that the work on quantum electrodynamics in their institute is proceeding well.