The shear band and associated stress relaxation classically known as the
Portevin-Le Chatelie effect is considered based on physical mesomechanics,
a recent field theory on plastic deformation and fracture. Using the
mathematical analogy to the Maxwell's electromagnetic theory, the field
theoretical meanings of various properties of plastic deformation are
considered. For more intuitive understanding, a simple, two-dimensional
spring-mass model is introduced. Along these considerations, interpretations
are given to various experimental observations, in which the shear band is
detected as an optical interferometric band structure. The results of this
investigation are consistent with our previous identification of the optical
band structure as a current associated with symmetry.