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The Fiftieth Anniversary Program of THE AMERICAN PSYCHOANALYTIC ASSOCIATION was given on Saturday, May 6, 1961, at the Forty-Eighth Annual Meeting held in Chicago. The topic was Perspectives in Psychoanalysis in the United States at Fifty Years. Jacob A. Arlow, M.D. chaired the program. Dr. Bertram D. Lewin spoke on American Psychoanalytic Education: Historical Comments; Dr. Robert Waelder on The Old Frontier and the New: Reflections and Speculations About the Future of Psychoanalysis as a Science; and Dr. Karl A. Menninger on The Effects of Teaching on the Teacher, of Treatment on the Therapist, and of Psychoanalysis on the Analyst.