The Townend Ring has been the subject of a large amount of experimental research and its general characteristics are now well understood. The following paper is the first theoretical treatment of the ring which has appeared. It was originally presented as a thesis to the University of Delft by Capt. G. Otten and published in Holland in November, 1932. The author has made the following abbreviated translation of it into English in collaboration with Dr. H. C. H. Townend, who also suggested a few modifications.