Consider here a model of traffic flow on a road network. For each ordered pair of nodes there is a demand function which expresses travel demand between the two nodes as a function of travel times on the network. Each road (arc) has a delay function which expresses travel time on that arc as a function of total traffic flow. Our objective is to show how an equilibrium of travel times, flows, and demands may be computed under conditions which are simple, general, and plausible. To solve the network problems techniques are developed for solving the stationary point problem.