"A section of The Petticoat, or The Venus of 1742 and 1794" (engraving presumably from 1794)
Text on the left: "The Mode - 1742 - Hogarth pinxit -- from a picture in the collection of J .B. Esquire"
On the right: "The Ton - 1794 - Lady CC...'l pinxit - from an original (in the collection) at the Opera"
(Notice the high heels that the 1742 lady is wearing.)