Several recent investigations in geophysics and astrophysics have involved a consideration of the hydrodynamics of a fluid which is a good electrical conductor. In this paper one of the problems which seem likely to arise in such investigations is discussed. The fluid is assumed to be incompressible and in homogeneous turbulent motion, and externally imposed electric and magnetic fields are assumed to be absent. The equations governing the interaction of the electromagnetic field and the turbulent motion are set up with the same assumptions as are used to obtain the Maxwell and current flow equations for a metallic conductor. It is shown that the equation for the magnetic field is identical in form with that for the vorticity in a non-conducting fluid; immediate deductions are that lines of magnetic force move with the fluid when the conductivity is infinite, and that the small-scale components of the turbulence have the more powerful effect on the magnetic field. The first question considered is the stability of a purely hydrodynamical system to small disturbing magnetic fields, and it is shown that the magnetic energy of the disturbance will increase provided the conductivity is greater than a critical value determined by the viscosity of the fluid. The rate of growth of magnetic energy is approximately exponential, with a doubling time which can be simply related to the properties of the turbulence. General mechanical considerations suggest that a steady state is reached when the magnetic field has as much energy as is contained in the small-scale components of the turbulence. Estimates of this amount of energy and of the region of the spectrum in which it will lie are given in terms of observable properties of the turbulence.