Not on display
Finberg’s interpretation of Turner’s inscription, which remains undeciphered, is incorrect. The view is of Falmouth, looking south-east towards Pendennis Castle on the peninsula rising beyond. The viewpoint is below the Beacon, at about where Harbour Terrace and Erisey Terrace now meet above the High Street, from where the tower of the Church of King Charles the Martyr can be seen beyond later houses on the hillside.
There is a similar view on folio 114 recto (D08579; CXXIII 111), and both were presumably used in composing the watercolour Falmouth Harbour of about 1812–14 (Lady Lever Art Gallery, Port Sunlight),1 engraved in 1816 for the Picturesque Views on the Southern Coast of England (see the concordance of the series in the 1811 tour introduction).
For other views in and around Falmouth see under folio 7 verso (D08375).
Andrew Wilton, J.M.W. Turner: His Life and Work, Fribourg 1979, pp.351–2 no.455, reproduced.