The results of a series of emulsion exposures, beginning in Japan in 1968 and continued in the U.S. since 1975, which have yielded a total balloon-altitude exposure of 98,700 sq m sr s, are presented. The data are discussed in terms of several models of cosmic-ray propagation. Interpreted in terms of the energy-dependent leaky-box model, the spectrum results suggest a galactic electron residence time of 1.0(+2.0, -0.5) x 10 to the 7th yr, which is consistent with results from Be-10 observations. Finally, the possibility that departures from smooth power law behavior in the spectrum due to individual nearby sources will be observable in the energy range above 1 TeV is discussed.
