  The evolution of the photospheric magnetic field during the declining phase
and minimum of Cycle 23 and the recent rise of Cycle 24 are compared with the
behavior during previous cycles. We used longitudinal full-disk magnetograms
from the NSO's three magnetographs at Kitt Peak, the Synoptic Optical Long-term
Investigations of the Sun (SOLIS) Vector Spectro-Magnetograph (VSM), the
Spectromagnetograph and the 512-Channel Magnetograph instruments, and
longitudinal full-disk magnetograms from the Mt. Wilson 150-foot tower. We
analyzed 37 years of observations from these two observatories that have been
observing daily, weather permitting, since 1974, offering an opportunity to
study the evolving relationship between the active region and polar fields in
some detail over several solar cycles. It is found that the annual averages of
a proxy for the active region poloidal magnetic field strength, the magnetic
field strength of the high-latitude poleward streams, and the time derivative
of the polar field strength are all well correlated in each hemisphere. These
results are based on statistically significant cyclical patterns in the active
region fields and are consistent with the Babcock-Leighton phenomenological
model for the solar activity cycle. There was more hemispheric asymmetry in the
activity level, as measured by total and maximum active region flux, during
late Cycle 23 (after around 2004), when the southern hemisphere was more
active, and Cycle 24 up to the present, when the northern hemisphere has been
more active, than at any other time since 1974. The active region net proxy
poloidal fields effectively disappeared in both hemispheres around 2004, and
the polar fields did not become significantly stronger after this time. We see
evidence that the process of Cycle 24 field reversal has begun at both poles.
