It’s safe to assume that, despite being unable to see the ground in the drawing, the buggloon has taken off and Mrs Bugg is clinging to the guy rope, several hundred feet above the ground, because she is exasperating like that.

Transcript:

Mrs Bugg clings to the guy rope of a hot-air buggloon, from the basket of which Mr Bugg waves and smiles.

The text reads: “Janubugg 9, 1793: Jean-Pierre Bugchard is the first bugg to fly in a bugloon.”