A precise formulation of U(1) local gauge invariance in QED is presented,
which clearly shows that the gauge coupling associated with the unphysical
longitudinal photon field is non-observable and actually has an arbitrary
value. We then re-examine the Dirac quantization condition and find that its
derivation involves solely the unphysical longitudinal coupling. Hence an
inconsistency inevitably arises in the presence of Dirac monopoles and this can
be considered as a theoretical evidence against their existence. An
alternative, independent proof of this conclusion is also presented.Comment: Extended and combined version, refinements added; 20 LaTex pages,
Published in Z. Phys. C65, pp.175-18