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Properties of the magnetron space-charge swarm which affect the propagation of electromagnetic waves are defined in terms of an effective dielectric constant. The space charge is found to be doubly refractive in nature, the velocity of propagation depending on the direction of propagation of the wave, polarization of the wave, and frequency. Effects of synchronism of the rotating space-charge swarm are discussed qualitatively. Experimental results which check parts of the theory are presented. The relationship of the space charge to the circuit is discussed in terms of the nonoscillating and the oscillating magnetron.