Udo J. Keppler, Don’t shoot! I’ll let go!, Januaury 31 1914, Illus. in: Puck, v. 75, no. 1926. Reproduced from: The Library of Congress, http://www.loc.gov/pictures/item/2011649666/ (Accessed: 9th March 2013)

The cartoon refers to the Clayton Act of 1914, which was an attempt by the Wilson Administration to tighten antitrust laws. Part of the act was to prevent corporations merging that had the same person as a director.

Description from the Library of Congress catalogue:

Illustration shows President Wilson about to shoot a harpoon into an octopus labeled “Interlocking Directorates” that has a grip on his boat labeled “Business Freedom”; Uncle Sam is sitting at the back of the boat with a long pole.