Path Integral Monte Carlo simulations have been performed for U(1) lattice
gauge theory in (2+1) dimensions on anisotropic lattices. We extractthe static
quark potential, the string tension and the low-lying "glueball" spectrum.The
Euclidean string tension and mass gap decrease exponentially at weakcoupling in
excellent agreement with the predictions of Polyakov and G{\" o}pfert and Mack,
but their magnitudes are five times bigger than predicted. Extrapolations are
made to the extreme anisotropic or Hamiltonian limit, and comparisons are made
with previous estimates obtained in the Hamiltonian formulation.Comment: 12 pages, 16 figure