  QED with N species of massive fermions on a circle of circumference L is
analyzed by bosonization. The problem is reduced to the quantum mechanics of
the 2N fermionic and one gauge field zero modes on the circle, with nontrivial
interactions induced by the chiral anomaly and fermions masses. The solution is
given for N=2 and fermion masses (m) much smaller than the mass of the U(1)
boson with mass \mu=\sqrt{2e^2/\pi} when all fermions satisfy the same boundary
conditions. We show that the two limits m \go 0 and L \go \infty fail to
commute and that the behavior of the theory critically depends on the value of
mL|\cos\onehalf\theta| where \theta is the vacuum angle parameter. When the
volume is large \mu L \gg 1, the fermion condensate <\psibar \psi> is
-(e^{4\gamma} m\mu^2 \cos^4\onehalf\theta/4\pi^3)^{1/3} or $-2e^\gamma m\mu L
\cos^2 \onehalf\theta /\pi^2 for mL(\mu L)^{1/2} |\cos\onehalf\theta| \gg 1 or
\ll 1, respectively. Its correlation function decays algebraically with a
critical exponent \eta=1 when m\cos\onehalf\theta=0.
