This drawing is in the mixed technique of red chalk and brown wash that Piranesi used in the late 1740s, but its attribution to Piranesi himself is questionable; it may be the work of an assistant emulating the master's drawings.
Watermark: Complex shield, surrounded by double chain and religious emblems, fragment, star, knight on horse, lamp, beaded chain. Arms of Spain or Kingdom of the Two Sicilies watermark (akin to Churchill 1935, no. 262). See 1966.11:101 for a related mark.
Morgan, Jane Norton, 1868-1925, former owner.
Morgan, Junius Spencer, 1892-1960, former owner.
Morgan, Henry S. (Henry Sturgis), 1900-1982, former owner.
Stampfle, Felice. Giovanni Battista Piranesi, Drawings in the Pierpont Morgan Library. New York : Dover, 1978, no. 15, repr.