the preferred embodiment of the present invention is a process for the removal of a weak acid or base dissolved in the aqueous feedstream . for purposes of the description a weak acid , specifically phenol , is chosen as the dissolved compound , and a strong base , specifically caustic soda , is selected as the reagent . however , it should be understood , that many other weak acids , if they are or can be made soluble in the membrane phase , will behave in the same manner as will be described for phenol . weak bases , provided the selected reagent is a strong acid , like sulfuric acid , follow an identical pattern . it should also be understood that while the following description is based on the removal of a single compound , several compounds , i . e . several acids or several bases , can be removed at the same time . the process is best illustrated in fig1 which shows a schematic of the general flowplan of the invention . fresh aqueous feed 1 containing a dissolved acid or base , in this case phenol , is fed to liquid membrane ( lm ) treater 2 where feed 1 is contacted with fresh lm emulsion 14 prepared in emulsifier 13 . the emulsion consists of a continuous or membrane phase , which is immiscible with feed 1 and a dispersed phase . the membrane phase is usually a hydrocarbon based composition comprising petroleum - based solvents , such as paraffins , kerosene , naphthenes or aromatics , as well as 0 . 1 - 5 wt . % of oil - soluble detergents , such as enj - 3029 , manufactured by exxon chemical co ., and , if required , a solubilizer for the compound or ion to be removed , such as lix64n when copper ion is to be removed , or alamine , supplied by general mills chemical co . when an oil - insoluble anion is to be removed . in the case of phenol , which is quite oil soluble , no such solubilizer needs to be added to the membrane phase . the dispersed phase is an aqueous solution comprising a reagent , which will react with the dissolved substance diffusing through the membrane phase into the dispersed internal phase of the emulsion , preventing said substance to diffuse back out again , thus concentrating the dissolved substance in the dispersed phase droplets . in the present case , where phenol is the dissolved substance , said reagent is caustic soda , naoh , which may be present in the internal phase of the fresh emulsion in a concentration of 1 - 20 wt . %. other strong , oil insoluble bases , like koh , lioh , k 2 co 3 , and mixtures of these compounds can be used . in treater 2 , feed 1 and fresh emulsion 14 are contacted in a concurrent or countercurrent manner for a sufficient length of time to assure the desired degree of removal of the dissolved compound , i . e . phenol from the feed . as discussed before , this removal occurs , since the compound , being soluble in the membrane phase of the emulsion , will diffuse through this membrane phase into the internal droplets of the emulsion driven by a concentration gradient of the dissolved compound across the membrane phase , as long as the reagent is available to consume the compound as it arrives in the dispersed droplets , and as long as the concentration of the dissolved compound in the external feed phase is higher than the concentration of this compound in the internal dispersed droplets of the emulsion . in order to maximize this driving force , countercurrent contacting between emulsion and feed is frequently employed . it is usually desirable to remove more than 80 % of the dissolved compound from the feed , usually more than 90 %, and often as much as 99 , or 99 . 5 %. the time required for removal of the compound to the extent desired depends on the compound , the extent of removal , the treat ratio of emulsion to feed , and the type of contacting and agitation provided in treater 2 . the time can vary from the order of 1 minute to as much as 30 minutes . the minimum amount of emulsion used for the treating step is that which contains just sufficient reagent to react completely with the amount of compound to be removed from the feed . any additional emulsion will enhance the driving force and improve contacting . after the treatment has proceeded to a sufficient degree and the compound has been removed to the desired extent , the mixture 3 of feed and emulsion are separated in settler 4 , unless this phase separation is inherent in the operation of the lm treater 2 , such as in a countercurrent tower . in settler 4 spent emulsion 6 is separated from treated feed 5 . the latter is removed from the system for further processing or discharge , while the spent emulsion 6 is fed to coalescer 7 for emulsion phase separation . coalescer 7 can operate on a number of demonstrated principles to demulsify the emulsion and allow separation of the two phases . centrifugation to separate out clear excess external , i . e . membrane phase , coupled with mechanical agitation of the resultant heavy emulsion and recycle to the centrifugation step was shown to be one way to break the emulsion . another method involves adding chemical solvents to the emulsion which result in breaking the emulsion into two phases , from which the solvents can be recovered by distillation . lastly , electrostatic coalescing has been shown to be a very successful and simple method to recover the separate phases . this method is best performed with insulated electrodes , under a potential field of 10 - 30 kv and applying an ac of a frequency between 10 and 15000 herz . electrostatic coalescence is the preferred method of breaking liquid membrane emulsions . the membrane phase 8 separated out in the coalescer is recycled directly to the emulsifier 13 to regenerate fresh emulsion , as will be discussed below . the spent internal phase 9 is withdrawn from coalescer 7 and fed to the bipolar membrane electrolysis cell 10 . in this device , the spent internal reagent is regenerated as stream 11 and the dissolved substance , whether acid or base , which had been extracted from feed 1 into the liquid membrane emulsion 14 in treater 2 is produced as a separated stream 12 , either as such , or in aqueous solution , but at a much higher concentration than present in the original feed 1 . in this specific example , sodium phenate solution , which is the internal phase of the spent emulsion , is effectively converted into sodium hydroxide solution and a relatively concentrated aqueous solution of phenol . the operation of the bipolar membrane cell is illustrated in fig2 for the specific case of converting the aqueous sodium phenate internal reagent solution of the spent emulsion into ( a ) an aqueous sodium hydroxide stream suitable for recycle to the emulsifier for preparation of fresh emulsion , and into ( b ) a concentrated solution of phenol in water suitable for phenol recovery by any of a number of conventional means , such as phase separation , distillation , steam stripping , or a combination of the above . in fig2 the unhatched rectangles represent cross - sections through membranes which only allow passage of negative ions , i . e . anion - permeable membranes , while cross - hatched rectangles signify membranes which only allow positive ions , i . e . cations to pass through . such membranes are commercially available , and are frequently made from such resins as polystyrene which can be sulfonated or otherwise provided with charged sidechains , such as sulfonate groups or amine groups , which allow positive or negative ions , respectively , to permeate through the resin . membranes which are indicated by both a unhatched and a cross - hatched rectangle are bipolar membranes , where one side of the membrane is permeable only to cations , while the other side is only anion permeable . when such a membrane is immersed in water , which is permeable through all of the above membranes , and an electric potential is applied across the membrane , water will dissociate into protons and hydroxide ions at the interface of the anion - permeable and cation - permeable membrane sides , and protons will migrate through the cation - permeable side of the bipolar membrane towards the cathode , while hydroxide ions will migrate in the opposite direction , through the anion - permeable side of the bipolar membrane , towards the anode . this property of the bipolar membrane is utilized in the bipolar electrolytic cell illustrated in fig2 to carry out the decomposition of the salt in the spent internal reagent of the instant invention , sodium phenate in this example , into its constituent acid and base , phenol and sodium hydroxide , respectively . the heart of the electrolytic cell is the bipolar membrane 21 which is placed , as shown , between anode 26 and cathode 27 in such a way that the anion - permeable side of membrane 21 faces the anode and the cation - permeable side faces the cathode . when an electric potential is applied between the cathode and the anode , oh - ions will issue from the bipolar membrane in the direction of the anode , and h + ions will issue in the cathode direction . in addition to the bipolar membrane 21 , a cation - selective membrane 22 is placed in the cell on the anode side of 21 , and an anion - selective membrane 23 is put between 21 and cathode 27 . these membranes divide the cell into cell compartments 36 , 37 , 38 , and 39 . when spent internal reagent comprising sodium phenate is passed , as shown in streams 28 , into the cell compartment 36 on the anode - side of the cation - selective membrane 22 , na + ion will migrate out of stream 28 through membrane 22 into the space between membrane 21 and 22 , cell compartment 37 . consequently when a stream of water or aqueous solution 31 is introduced into that space , it will be enriched in both oh - and na + ions , i . e . it will leave as a sodium hydroxide solution . cell compartment 37 is , therefore , a base - generating compartment . similarly , an aqueous stream 32 introduced into the cellular space 38 between membranes 21 and 23 will be enriched in h + ions issuing from the bipolar membrane 21 and phenate ions pho - passing through anion - selective membrane 23 , as a result of feeding a spent internal reagent stream 33 into the space 39 between membrane 23 and cathode 27 . consequently , stream 25 issuing from cell compartment 38 between membranes 21 and 23 will be enriched in phenol . cell compartment 38 is , therefore , an acid - generating compartment . in contrast to conventional water electrolysis into its constituent gases , hydrogen and oxygen , which requires cell voltages in the order of 3 - 5 v per unit cell , bipolar elecrolysis into the constituent acid and base of the contained salt only requires cell voltages of the order of 2 volts per unit cell . many of such repeating unit cell arrangements can be put in series between the anode 26 and cathode 27 , as is shown schematically by dots 29 and 30 , to make up a battery of electrolytic cells . such a battery arrangement would have repeating membranes . . . 22 - 21 - 23 - 22 - 21 - 23 - 22 - 21 - 23 . . . etc placed between an anode 26 and a cathode 27 , thus forming repeated cell compartments . . . 37 , 38 , 39 , 37 , 38 , 39 . . . . note that compartments 36 and 39 are equivalent . spent internal reagent such as stream 28 or 33 would be fed into compartments 39 in the above described arrangement , and water or an aqueous stream would be fed into compartments 37 and 38 . regenerated internal reagent , an aqueous solution of sodium hydroxide in this case , will issue from all base - generating cell compartments 37 , and recovered phenol , in aqueous solution or suspension , will leave the cells from the acid - generating compartments 38 . the liquid leaving the compartments 39 , corresponding to streams 34 or 35 , will be solutions of much lower sodium phenate salt content than present in the spent internal reagent fed to the cell , since na + ions migrated out of this stream through membrane 22 , and phenate ions migrated out in the opposite direction through membrane 23 . in the order of 20 to 95 % of the salt in streams 28 or 33 fed to the cell can be split into the constituent acid and base in a single pass through the cell , preferably 50 - 90 %, most preferably 75 - 90 %. compartments 39 , consequently , can be considered salt - depleting compartments . the effluent solution , since it is still rich in contained unconverted sodium phenate , containing between 5 % to 80 % of the sodium phenate in the spent internal reagent 28 or 33 , will represent a disposal problem . this stream will also comprise any unused sodium hydroxide from the liquid membrane permeation , i . e . base which was not consumed in the extraction step to neutralize phenol permeating into the internal aqueous reagent dropets . it is particularly advantageous to recycle this stream to the cell , specifically as streams 31 or 32 , but preferably as stream 31 . while this will introduce some sodium phenate into the product sodium hydroxide solution 24 , this presents no problem , since this solution is immediately recycled to fresh emulsion production , where a small phenate content of the fresh reagent does not interfere with adequate clean - up of the phenol in the plant feed . similarly , a small sodium phenate content of the enriched phenol solution 25 leaving the cell is no problem , since pure phenol can be recovered from this stream by phase separation , extraction , distillation or steam stripping regardless of any sodium phenate contained therein . however , if streams 34 and 35 comprise an appreciable amount of sodium hydroxide , as explained above , because the internal reagent in the liquid membrane extraction operation was only partly consumed , then it is undesirable to recycle streams 34 or 35 to stream 32 . under these conditions , these streams should only be recycled to stream 31 , which feeds the caustic regenerating cell compartment . it has been found that it is advantageous to use as feed to cell compartment 38 another stream , which is rich in phenol and would represent a disposal problem . stream 25 , which is an aqueous stream rich in phenol , goes to a phenol recovery operation , not specifically shown in fig1 where the regenerated phenol is recovered as mentioned beforehand by conventional means , such as distillation , phase separation , extraction or steam stripping . the aqueous raffinate from this operation will still contain small amounts of unrecovered phenol , and it is advantageous to use this stream as aqueous make - up stream 32 feeding the cell compartments 38 regenerating phenol and generating streams 25 . in summary , it is therefore preferable to recycle via 31 to cell compartments 37 the effluent 35 from the cell compartments 39 handling the spent internal reagent , stream 28 , and to recycle via 32 to the cell compartments 38 , regenerating the recovered dissolved acid , the aqueous raffinate from the operation in which said regenerated dissolved acid is recovered in concentrated form from the aqueous cell effluent 25 . these recycles will , of course , be appropriatedly modified if the dissolved substance is a base and the internal reagent is an acid . the recycle of these streams to the bipolar membrane cell as feed stream to acid and base - generating compartments is a particularly beneficial aspect of the present invention . it shows how the combination of bipolar membrane electrolysis and liquid membrane extraction surprisingly and synergistically improve each other by allowing weak points in each process to be strengthened . for example , this recycle of partially converted salt solution to the acid and base - generating compartments of the bipolar membrane cell overcomes the difficulty of that process that incomplete conversion of the salt results in process inefficiencies , environmental disposal problems , and frequently inefficient operation if high conversion is required to avoid this disposal problem . the inefficiency arises from the fact that a bipolar membrane cell operating with very low salt concentration in streams 34 and 35 requires high operating voltage , operates with high cell resistance , and is subject to undesirable leakages of reagents resulting in additional process inefficiencies . since in the present process , partly depleted salt solution can be used as make - up solution in the bipolar cell for the acid and base - generating compartments , this difficulty is obviated . by the same token , the bipolar cell diminishes the demand on the performance of the liquid membrane extraction process , on the utilization of the internal reagent , and allows the use of reagents which would be considered unacceptable on a once - through basis , be it for reasons of availability , cost , contamination or convenience . in addition , of course , it permits the recovery of the dissolved acid or base , which , up to now , had not been considered a feasible operation . while the present example illustrates the invention with the specific case of the removal of a dissolved weak acid , specifically phenol , by the use of a liquid membrane emulsion comprising an encapsulated aqueous solution of a strong base , specifically sodium hydroxide , it is obvious to anybody skilled in the art that this novel combination can be employed for the removal of any weak acid , or mixtures of acids , using an emulsion comprising an encapsulated base , or for the removal of any weak base , or mixture of bases , using an emulsion comprising an encapsulated acid . the only provisions are that the dissolved weak acids or bases are somewhat soluble in the membrane phase of the emulsion , while the bases or acids encapsulated in the treating emulsions should not be able to permeate through the membrane phase , i . e . should not be soluble in the membrane phase . weak acids which satisfy this condition of permeability are generally organic acids like phenols , carboxylic acids , and certain inorganic acids which are soluble in hydrocarbons , including hydrogen sulfide , hydrogen cyanide , and carbon dioxide or sulfur dioxide . weak bases include ammonia , amines and many organic nitrogen compounds of a basic nature . strong acids and bases which are suitable as treating agents encapsulated in the liquid membrane are inorganic acids and bases , e . g . sulfuric , hydrochloric and nitric acids , as well as the alkali and alkaline earth oxide based hydroxides . these materials are usually sufficiently highly ionized so that their membrane solubility is very low . recapitulating , and defining limits , the aqueous feed 1 comprising a dilute dissolved acid or base , referred to as a dissolved substance , is treated with a fresh liquid membrane emulsion 14 in treater 2 to remove from 20 % to 99 . 98 %, preferably 90 to 99 . 98 % of said dissolved substance from feed 1 . the treated feed 5 is withdrawn from the system after separation from the liquid membrane emulsion in settler 4 or the like . the fresh liquid membrane emulsion 14 comprises a continuous oil or membrane phase and a dispersed aqueous internal phase which contains a reagent capable of neutralizing said dissolved substance and preventing its escape from the emulsion once it has permeated into the dispersed droplets of the internal phase . the amount of said reagent in said fresh emulsion 14 will be between 1 . 01 - 3 times the stoichiometric amount of said reagent required to neutralize the dissolved substance removed in the liquid membrane treating operation 2 , preferably between 1 . 01 - 1 . 5 times the stoichiometric amount , most preferably between 1 . 1 and 1 . 5 times the stoichiometric amount . the spent emulsion 6 removed after the treating operation from the treated feed 5 will comprise a spent internal phase 9 which is separated from a continuous membrane phase in a coalescer 7 and sent to bipolar membrane electrolysis 10 where the internal reagent is regenerated and the extracted dissolved substance 12 is recovered . the spent internal reagent 9 is an aqueous solution comprising the recovered dissolved substance in the form of a salt with the reagent , together with between 0 . 01 and 2 , preferably between 0 . 01 and 0 . 5 , and most preferably between 0 . 1 and 0 . 5 times the stoichiometric amount of free , unneutralized reagent , compared with the amount of reagent required to neutralize the dissolved substance removed in the lm treater 2 . in the bipolar membrane electrolysis , at a voltage between 1 . 5 and 2 . 5 v per unit cell , the spent internal reagent 33 , at first passage through the cell via compartment 39 , will leave the cell as a stream 35 , depleted in the salt formed from the dissolved substance recovered in treater 2 and the said internal reagent , but still comprising between 0 . 01 and 2 times the said stoichiometric amount of excess internal reagent , and also comprising some excess salt which may have been present in the internal reagent phase of the fresh emulsion 14 . this excess salt , which circulates around in the fresh and spent emulsion , may be between 0 . 01 and 2 times the amount of salt formed by neutralization in lm treater 2 . the salt depleted stream 35 can be discarded , but preferably it is fed to the reagent - regenerating compartment of the bipolar membrane cell . when the reagent is a base , this corresponds to stream 31 flowing through cell compartment 37 in fig2 when the reagent is an acid , the corresponding stream is 32 flowing through compartment 38 . the stream leaving the reagent - regenerating compartment will be an aqueous solution comprising between 1 . 01 and 3 times the stoichiometric amount of said reagent , and between 0 . 01 and 2 times the stoichiometric amount of salt , as discussed above . this stream is the regenerated internal reagent phase 11 of fig1 ready for recycle to emulsifier 13 . the dissolved substance - regenerating compartment of the bipolar membrane electrolysis cell , if it is fed with an aqueous stream comprising between 0 . 01 and 0 . 5 times the amount of dissolved substance removed in treater 2 , will regenerate essentially all of the removed dissolved substance , so that the stream leaving this cell compartment will comprise between 1 . 01 and 1 . 5 times the amount of dissolved substance removed in the lm treater . if the dissolved substance is an acid , the feed to the compartment corresponds to stream 32 in fig2 the dissolved substance - regenerating compartment is 38 , and the effluent corresponds to stream 25 . if the dissolved substance is a base , the feed to the compartment corresponds to stream 31 in fig2 the compartment is 37 , and the effluent corresponds to stream 24 . the effluent next goes for treatment to a dissolved substance recovery unit where the recovered dissolved substance is taken out of effluent stream 25 or 24 , as the case may be . the amount of dissolved substance taken out of this stream is , at best , equal to the amount of dissolved substance removed in treater 2 , so the amount of dissolved substance left in the treated effluent is between 0 . 01 and 0 . 5 times the amount of dissolved substance taken out in treater 2 . as discussed previously , said treated effluent is a preferred feed to the dissolved substance - regenerating compartment of the bipolar membrane cell . the regenerated internal reagent phase 11 and membrane phase 8 separated out in coalecer 7 are combined in emulsifier 13 to form fresh emulsion 14 . the emulsion usually comprises an intimate mixture of the two phases , aqueous as the internal , dispersed phase , and oil as the continuous membrane phase in the volume ratio of between 10 : 1 and 1 : 10 . the membrane phase comprises a hydrocarbon or mixture of hydrocarbons in the c 7 to c 20 range , together with a surfactant such as enj - 3029 manufactured by exxon chemical co . the surfactant concentration can range from 1 to 5 wt . % in the membrane phase . the membrane phase may also contain an oil soluble ion exchange resin , complexing agent or modifier to improve the solubility of the dissolved substance in the membrane phase , and thus to enhance the permeability of the dissolved substance through the membrane phase in the emulsion . suitable substances are complexing agents like lix64n marketed by general mills chemical co ., suitable for metal ions such as copper , alamine ( also manufactured by general mills ) for anion transfer , ethylene diamine tetraacetic acid ( edta ) for cation transfer , aliphatic alcohols to improve the solubility of organic acids in the membrane phase , and the like . the following example will demonstrate the present invention . again , it should be realized that because the example is restricted to phenol removal using aqueous caustic as the internal reagent , the general concept is far broader and can be used for the recovery of many dilute acids and bases . an aqueous waste stream flowing at the rate of 1000 l / h has a phenol content of 200 wt . ppm . it is fed to a liquid membrane extraction step , where it is contacted with a liquid membrane emulsion comprising as internal , dispersed reagent a 5 wt . % aqueous naoh solution , also comprising 3 . 87 wt . % sodium phenate , and as membrane phase an oil phase comprising s100n , a hydrocarbon of about 35 carbon number and about 9 % aromatics content , and as surfactant comprising 2 wt . % enj - 3029 . the ratio of membrane phase to aqueous phase in the emulsion is 2 / 1 by volume , and the emulsion is fed to the treater at the rate of 5 . 85 l / h . the treat ratio of emulsion to feed in the reactor is maintained at 1 / 5 vol / vol , but treated feed and spent emulsion are removed from the treating step by differential settling at the rate at which they are fed and accumulating , i . e . 1000 l / h for the treated feed , and about 6 l / h for the spent emulsion . in the treater 98 % of the phenol is removed , so the treated feed will contain 4 wt . ppm of phenol . the composition of the aqueous phase in the fresh and spent emulsion is as shown in table 1 . table 1______________________________________composition of aqueous phasein fresh and spent emulsiong / h fresh emulsion spent emulsion______________________________________naoh 104 . 26 20 . 85na phenate 80 . 62 322 . 50water 1900 . 22 1937 . 75total 2085 . 10 2281 . 10______________________________________ the spent emulsion is broken , using an electrostatic coalescer , and the spent aqueous phase of composition as shown in table 1 is sent to a bipolar membrane electrolytic cell operating at 2 v per unit cell potential . the spent aqueous phase is first sent through the salt - depletion compartment of the cell , where the salt content of the solution is reduced . the salt - depleted solution is then fed to the caustic - regenerating compartment of the cell , where caustic is increased back to the level in the aqueous phase of the fresh emulsion . these aqueous compositions are listed in table 2 . table 2______________________________________compositions of internal aqueous phasein bipolar cellg / l spent aqueous salt - depleted aq . fresh emulsion______________________________________naoh 20 . 85 20 . 85 104 . 26na phenate 322 . 50 80 . 62 80 . 62water 1937 . 75 1937 . 75 1900 . 22total 2281 . 10 2039 . 22 2085 . 10______________________________________ the above regenerated internal aqueous reagent phase together with the membrane phase separated out in the coalescer are recombined in an emulsifier , where fresh liquid membrane emulsion is prepared . an aqueous solution containing about 0 . 5 wt . % of phenol is fed to the phenol - generating compartment of the bipolar cell , where it is enriched in phenol which is being removed from the spent aqueous phase passing through the cell . the effluent from this cell compartment will contain about 4 . 8 wt . % phenol . this stream is sent to a phenol recovery unit , which treats this stream by steam stripping and distillation to remove the bulk of the phenol contained therein and recover it as pure phenol . the stripped residue is an aqueous solution containing about 0 . 5 wt . % phenol , which is recycled to the phenol - gathering compartment as described hereinabove . no or very little chemical make - up of caustic or other materials is required in this operation , nor are there any waste liquids which need to be discarded and chemical products which involve complex disposal procedures . an aqueous waste stream flowing at the rate of 1000 l / h has a phenol content of 200 wt . ppm . it is fed to a liquid membrane extraction step , where it is contacted with a liquid membrane emulsion comprising as internal , dispersed reagent a 5 wt . % aqueous naoh solution , and as membrane phase an oil phase comprising s100n , a hydrocarbon of about 35 carbon number and about 9 % aromatics content , and as surfactant comprising 2 wt . % enj - 3029 . the ratio of membrane phase to aqueous phase in the emulsion is 2 / 1 by volume , and the emulsion is fed to the treater at the rate of 5 . 80 l / h . the treat ratio of emulsion to feed in the reactor is maintained at 1 / 5 vol / vol , but treated feed and spent emulsion are removed from the treating step by differential settling at the rate at which they are fed and accumulating , i . e . 1000 l / h for the treated feed , and about 6 l / h for the spent emulsion . in the treater 98 % of the phenol is removed , so the treated feed will contain 4 wt . ppm of phenol . the composition of the aqueous phase in the fresh and spent emulsion is as shown in the table 3 . table 3______________________________________compostion of aqueous phasein fresh and spent emulsiong / h fresh emulsion spent emulsion______________________________________naoh 104 . 26 20 . 85na phenate -- 241 . 87water 1900 . 22 1937 . 75total 2004 . 48 2200 . 47______________________________________ the spent emulsion is broken , using an electrostatic coalescer , and the spent aqueous phase of composition as shown in table 1 is sent to disposal . two alternate disposals can be carried out : ( a ) the spent phenate solution , as such , can be discarded via biological sewage disposal , where the phenol will be digested by appropriate bacteria and converted into sludge . ( b ) 133 g / h of 96 % sulfuric acid are added to the spent aqueous phase . this liberates 196 g / h of phenol and forms 185 g / h of sodium sulfate . the phenol can be recovered from this solution by steam stripping and distillation . the remaining sodium sulfate solution will contain a small amount of residual phenol , and has to be discarded via a biopond . in this operation , caustic and sulfuric acid were consumed , and disposal of the waste streams involved handling of environmentally harmful fluids . the waste water stream of examples 1 and 2 is fed directly to a bipolar membrane electrolysis cell , operating at a potential of 2 v . no separation takes place , since the phenol is present in very dilute form , as such , and not as a salt . if caustic is added to the waste water to neutralize the phenol before feeding the resultant dilute sodium phenate salt solution to the bipolar cell , separation into a very dilute phenol containing aqueous stream and a very dilute caustic stream takes place at a potential considerably higher than 2 v , and the product streams , particularly the dilute phenol stream , present an obvious disposal problem equal to or surpassing that posed by the original feed . a sodium phenate solution of composition equal to that of the spent aqueous internal reagent phase shown in table 1 of example 1 is sent to a bipolar membrane electrolysis cell where 75 % of the salt is decomposed into its constituent sodium hydroxide and phenol . the salt - depleted effluent from this operation has the composition shown in table 2 of example 1 under &# 34 ; salt - depleted aq .&# 34 ;, and is discarded . recovery of additional phenol and caustic from this stream requires much higher than 2 v potential and results in considerable amounts of impurities being introduced into the caustic and phenol product streams , specifically phenol into the caustic stream , and caustic into the phenol stream . the discard of the salt - depleted effluent not only intails a loss of caustic and phenol , but also involves disposal of an environmentally harmful fluid . the recovered caustic is relatively dilute , about 5 wt . % and represents a stream of marginal market value . example 1 shows how the process of the present invention operates beneficially in a specific , though not limiting example , reducing a contaminant in a waste water stream , with minimal requirements of chemicals , with the potential production of the waste product as a marketable commodity , and without the formation of waste streams which are disposal problems in themselves . example 2 illustrates that liquid membrane emulsion treatment by itself achieves the contaminant reduction , but requires considerable chemical make - up and introduces waste disposal problems of its own . example 3 and 4 show that bipolar electrolysis alone will not solve the contaminant removal problem , while example 4 further demonstrates that bipolar electrolysis of a concentrated sodium phenate solution , by itself , is not a chemically efficient nor an environmentally satisfactory operation .