The time of exposure which is absolutely active, we propose to call effective time of exposure in contradistinction to the total time of the same. The more we increase the value of C'D', that is to say, that of the effective time, the more the ratio, C'D'/A'B', will approximate to unity, and the nearer we shall reach perfection. The correlative of such elongation of the aperture is an increase in velocity which will always bring the total exposure to the same figure, whatever be the aperture employed. If the aperture be equal to two diameters, the effective time will be equal to half the time of the total exposure; and if it is equal to three diameters, the exposure will be good during 2/3 of the total time. This amounts to saying that the effective time of exposure is equal to n times the diameter--1, the velocity being supposed always uniform. If we place the shutter within the objective, it is the diameter of the diaphragm that it will be necessary to say. The effective time will be equal then to n diaphragm--1. From what precedes it results that in no case should the aperture be inferior to the diaphragm, since the former would otherwise absolutely suppress the effective time in giving a lower plane corresponding to an insufficient quantity of light. Moreover, an aperature of this kind would prove injurious to the quality of the image by successively uncovering rays which do not form their image identically at the same point. We are now, then, in presence of results that are absolutely positive, and they are as follows: 1. The guillotine shutter should be placed in the interior of the objective and as near as possible to optical center, that is to say, behind the diaphragm, since the latter is precisely in the optical center. 2. The aperture should be as wide as possible. 3. The velocity should be as great as possible. In practice, an aperture from 4 to 5 times the diameter of diaphragm employed will be more than sufficient, since we shall have, according to circumstances, ¾ or 4/5 of the effective time. Moreover, whatever be the time of exposure, this ratio once established will be invariable, and the apparatus will always operate identically.