The reduced BCS Hamiltonian for a metallic grain with a finite number of el
ectrons is considered. The crossover between the ultrasmall regime, in whic
h the level spacing d is larger than the bulk superconducting gap Delta and
the small regime, where Delta greater than or similar tod, is investigated
analytically and numerically. The condensation energy, spin magnetization,
and tunneling peak spectrum are calculated analytically in the ultrasmall
regime, using an approximation controlled by 1/ln N as a small parameter, w
here N is the number of interacting electron pairs. The condensation energy
in this regime is perturbative in the coupling constant lambda and is prop
ortional to dN lambda (2) = lambda (2)omega (D). We find that also in a lar
ge regime with Delta > d, in which pairing correlations are already rather
well developed, the perturbative part of the condensation energy is larger
than the singular, BCS part. The condition for the condensation energy to b
e well approximated by the BCS result-is found to be roughly Delta rootd om
ega (D). We show how the condensation energy can, in principle, be extracte
d from a measurement of the spin magnetization curve and find a reentrant s
usceptibility at zero temperature as a function of magnetic field, which ca
n serve as a sensitive probe for the existence of superconducting correlati
ons in ultrasmall grains. Numerical results are presented, which suggest th
at in the large N limit the 1/N correction to the BCS result for the conden
sation energy is larger than Delta.