1. A torch for connection to an electric arc welding system having a wire feeder with a feed motor, a power source and a weld process controller for said power source to cause a selected weld process, said torch having a memory device for storing an identification code unique to said torch and a transmission line to output said code in digital format wherein said welding system has a torch monitoring device with an input terminal connected to said transmission line when said torch is connected to said system, said monitoring device having an input decode circuit to identify said torch and to activate a monitoring program tailored to said torch.