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This paper describes the use of a very high-speed scratch pad memory for directly executing programs in floating code with a single origin or multiple origins. When a program is being loaded into the magnetic core memory of a digital computer, there is no need of modifying the addresses of the original code. Neither the programmer, nor the operator, nor the program loader has to know where are the available locations in the magnetic core memory. During the subsequent execution of the program, the logical and physical correspondence of the addresses of the code is found by hardware address interpretation. The operations involved in address interpretation are described as well as the organization and control sequence of the computer. The use of the scratch pad memory can also be extended for dynamic allocation of magnetic-core memory locations and for memory protection of all programs which do not have to lie in physically contiguous areas of the memory.