The 1933-34 Standard 181 engine was a smaller version of a 207. The Standard was about 400 to 500 pounds lighter than a Master and the 181 engine provided adquate performance with the smaller engine thus giving better fuel milage. The transmission and differential in the Standard was of lighter construction also.
Your 1934 Standard coupe weight was 2470 pounds and the Master was 2895 pounds. The Standard would accelerate from 10 to 45 MPH in high gear in 15.10 seconds and the Master 16.23.
The Standard and Master used the same pistons and general design of the engine was the same. Due to the shorter stroke of the Standard the crankshaft was different as well as the length of the connecting rods. Due to the Standards lower block the water pump was mounted to the head rather than the block.
In 1934 the Standard had 60 HP and the Master 80. In 1935 they used the Master engine in the Standard and detuned it a bit with a smaller intake manifold and it produced 74 HP and went from 10 to 45 in only 12.98 seconds and due to carburetor improvments gave better fuel milage than the 1934 engine.
The 181 engine was just as good as a 207 and had the advantage of a shorter stroke which reduced piston speed and travel.
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Chevgene