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would be merely foolish to pretend that the pictorial poster, looked at from the point of view of art, is of the same importance as a portrait by Velasquez or an etching by Rembrandt. Its æsthetic qualities have of necessity to be subordinated to its commercial qualities; the artist is the servant of the tradesman. His first business is not to achieve a decoration, but to call the attention of the man in the street to the merits of an article. He may be fantastic only in so far as his fantasy assists the advertisement; he must ever keep before his eyes the narrow object of his effort. The closest limits are set to his invention; it is not for him to do what he will, but rather to do what he must. Under such circumstances, it is, at the first blush, somewhat surprising that artists have condescended to the poster at all. The bounds of freedom in the cases of painting and of sculpture are, comparatively