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The first part of this paper is devoted to the purpose of presenting a clear conception of the internal voltages, currents, heating, and armature reactions as related to the physical structure of the simple converter and as related to the passage of time. These may be styled ``space'' and ``time'' relations. ``Space'' relations are indicated by means of diagrams representing as nearly as possible the physical structure of the converter. ``Time'' relations are shown by conventional curves and vectors. The accepted mathematical expressions for voltage ratios, heating effect of currents, and armature reaction imply that certain facts be disregarded. This is done in order to simplify their development. The mathematical treatment developed in the appendixes to this paper includes most of these disregarded factors and makes it possible to evaluate them. This treatment is based on the method of ``harmonic analysis'' by which any regularly repeating function may be represented.