Life — October 29, 1903 — page 1: what you’re looking at

What you’re looking at

# "Babe and Wally" - Life Magazine, October 29, 1908 This cartoon satirizes Wall Street speculation and public trust during the early 1900s. The figure labeled "BABE" (wearing a straw hat marked "WALL STREET") represents a wealthy speculator or financier. He leads a small dog labeled "WALLY" on a leash—likely symbolizing ordinary citizens or the general public. The caption reads: "Wall Street: say, Babe, the plain people took more stock in you before you outgrew that hat. They call you 'Trusts' now." The satire criticizes how financial elites ("Babe") once enjoyed public confidence but have grown greedy, becoming associated with monopolistic trusts. The dog metaphor suggests the public blindly follows wealthy speculators, even as those figures become increasingly corrupt and untrustworthy.