Making use of the similarity between the factorized spectrum of the generalized beta-function and the spectrum of a vibrating string In Minkowski space, we construct a formalist) within which we give a geometrical Interpre tation to the gauge symmetries inherent 1n the theory. The key point in the construction is the identification of the harmonic oscillator amplitude with the component:of actual coordinates 1n space-time. It turns out that these coordinates must satisfy certain constraints arising from purely geometrical considerations, and these constraint equations are then shown to be the familiar gauge conditions on the underlying states. Analogies with more familiar gauge theories are pointed out.
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