We show that a simple magnetization model for the crust of the North Atlantic Basin will explain the major anomalies of the Magsat intermediate-wavelength magnetic field over the basis. Our seafloor spreading model incorporates anomalous skewness and enhanced magnetization near the spreading axis and at the Cretaceous Quiet Zones. The anomalies over the young oceanic crust indicate a decrease in susceptibility away from the spreading axis. The enhanced magnetization over the Cretaceous Quiet Zone could be due to an increased main field intensity or a change in the spreading center processes during the Cretaceous. Though similar observations are not readily apparent for other basins, the North Atlantic correlation indicates that an investigation of the remanent magnetization of the ocean crust could provide a standard for the evaluation of the intermediate-wavelength magnetic field. The models presented in this paper demonstrate that a sizable percentage of the intermediate-wavelength energy in the Magsat field is derived from sources within the earth's crust. It also demonstrates that remanent magnetization is an important source of the Magsat field over oceanic areas. We seek to demonstrate in this paper that although components of the main field are likely to contribute to the intermediate-wavelength scalar field, we can correlate the anomaly field over the North Atlantic to the well-studied thermal remanent magnetization of the oceanic crust with a minor component of induced magnetization associated with younger oceanic crust.