Abstract
S. Katsura has found evidence from exact calculations on finite systems that has led him to suggest that, contrary to the generally accepted view, a van der Waals type loop will be found in an exact application of the canonical ensemble to a first-order phase transition. It is shown here that Katsura's results can be understood in terms of interfacial free energy in the two-phase region. A loop is indeed obtained, but it is not of the van der Waals type. In particular, the loop vanishes in the limit of an infinite system. The well-known argument of van Hove showing that a loop does not exist in an infinite system (canonical ensemble) is discussed in this connection.
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