Morten St George Theory

[-JKP-]

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JP, I was only referring the red writing immediately below the drawing which I presume is what describes the drawing.

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You "presume" it describes the drawing? Why don't you just read it?

The red writing introduces the following section (Le premier chappitre, The first chapter) and expressly mentions King Philip (Du Roÿ Phelipe) and ends with "par bonne justice", but it is not a caption. It does not directly describe the scene above (which might be a summation-drawing that represents a number of burnings) and Philip does not appear to be in the picture. It is introductory to the general story that follows. The black text starts at Thebes and recounts the history from there.