I’m guessing the buggs are silly drunks. Also, gin out of champagne coupes? BRILLIANT.

(The magic trick bit refers to my habit of performing a stupid magic trick when I’m drunk, an idea I got from a comedian whose name I no longer remember.)

Transcript:

A line of buggs approaches a still holding piles of what is presumably cotton. On the other side of the still, two drunken buggs are waving champagne coupes. We can only assume the magic trick is imminent.

The text reads: “Munch 14, 1784″ Eli Buggney is granted a patent for the Cotton Gin. A cheap way for buggs to make alcohol from fluffy stuff they find all over the place. Magic tricks were also invented on that day.”