  We review the gauge invariant formulation of 2-dim. QCD. We show that the
non-linear gauge invariant phase space is the coset $W_\infty/W_{+\infty}\times
W_{-\infty}$ ,which is specified by the $N=\infty$ master-field of this model.
The meson fields correspond to the local coordinates of the coset. We comment
on the stringy collective coordinates of the solitons (baryons) in this model.
