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The opportunities along with the advantages and disadvantages of the Moon for astronomical observatories are carefully and methodically considered. Taking a relatively unbiased approach, it was concluded that lunar observatories will clearly be a major factor in the future of astronomy in the next century. He concludes that ground based work will continue because of its accessibility and that Earth orbital work will remain useful, primarily for convenience of access in constructing and operating very large space systems. Deep space studies will feature not only probes but extensive systems for extremely long baseline studies at wavelengths from gamma rays through visible and IR out to radio is also a conclusion drawn, along with the consideration that lunar astronomy will have found important permanent applications along lines such as are discussed at the present symposium and others quite unsuspected today.