The authors compare their experience with endoscopy of gastrointestinal bleeders in the flexirigid era (1962) and the panendoscopic era (1972). They report a marked decrease in chronic duodenal ulcer and an increase in acute mucosal lesions as causes of bleeding. The number of undiagnosed cases remains disturbingly high (14%). Fiberoptic panendoscopy in bleeding patients is safe and well tolerated.