This March 11, 1908 cover of the Democratic humor magazine, Puck, warns that the poor state of the American economy could be a major issue in the fall presidential campaign. Republicans, represented by a clumsy elephant, have mishandled the economy, stepping on and breaking the workingman’s “Full Dinner Pail”. The image refers to the economic effects of the Panic of 1907, the first major banking panic since one in 1893 began a four-year national depression.