Eshley had conceived and executed a dainty picture of two reposeful milch-cows in a setting of walnut tree and meadow-grass and filtered sunbeam, and the Royal Academy had duly exposed the same on the walls of its Summer Exhibition. The Royal Academy encourages orderly, methodical habits in its children. Eshley had painted a successful and acceptable picture of cattle drowsing picturesquely under walnut trees, and as he had begun, so, of necessity, he went on.
quoted from the stalled ox
Does "the same" mean the same picture or the same picture that has the same concept? If it means the same picture, why does the writer use "the same" instead of "the picture"?