  We discuss the various aspects of two-dimensional
$QCD_{2}(N\rightarrow\infty)$ (the 't Hooft model\cite{Hooft}). Our main
interest (motivated by the corresponding analysis in the four dimensional QCD)
is the vacuum structure of the theory. We use the very general methods in the
analysis, such as dispersion relations and duality in order to relate the known
spectrum of $QCD_2$ to the different vacuum characteristics. We explicitly
calculate (in terms of physical parameters like masses and matrix elements) the
chiral condensate as well as the mixed vacuum condensates: $$\la
0|\bar{q}(g\epsilon_{\mu\nu} G_{\mu\nu})^nq |0\ra \sim M_{eff}^{2n}\la
0|\bar{q} q |0\ra .$$ We interpret the factorization property for the mixed
vacuum condensates as a reminiscent of the master field at large $N$.
