1. The effects of mixtures of carbon monoxide and oxygen on the growth and metamorphosis of the Cecropia silkworm were examined at successive stages of embryonic and post-embryonic development.2. Embryos, mature larvae, and adults are killed by five days of exposure to carbon monoxide/oxygen ratios of 20:1 or 25:1. Diapausing pupae, by contrast, survive at least 21 days of exposure to carbon monoxide/oxygen ratios as high as 33:1.3. While failing to interfere with the viability of diapausing pupae, carbon monoxide blocks or greatly retards the termination of the pupal diapause; it also inhibits the healing of experimental wounds in the pupal integument.4. The ability to survive in the presence of high pressures of carbon monoxide persists throughout the early stages of adult development. Exposure of the developing, post-diapausing insect to suitable pressures of carbon monoxide establishes and enforces an artificial diapause which is reversed upon return to air.5. The inhibition of adult development by carbon monoxide is light-reversible; the degree of inhibition is a function of the carbon monoxide/oxygen ratio. These findings indicate that the effects of carbon monoxide are due to the poisoning of cytochrome oxidase.6. Resistance to carbon monoxide, as in the diapausing pupa, signals the presence and utilization of an oxidase other than cytochrome oxidase.7. On the basis of these several lines of evidence, it is concluded that growth and metamorphosis, at all stages in the life history, are dependent on metabolism catalyzed by cytochrome oxidase. The function of cytochrome oxidase is likewise prerequisite for the maintenance of life of the embryo, larva, and adult.8. Only the diapausing pupa survives without regard to the presence or function of cytochrome oxidase, the maintenance metabolism of the pupae being served by an unidentified oxidase which is insensitive to carbon monoxide.9. With the termination of pupal diapause the growth and differentiation of the adult moth again requires the function of the cytochrome oxidase system. This fact is considered in relation to the endocrine control of the pupal diapause.