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It could refer to the Serbian secret society that was active at the time, but American newspapers at the time usually used "black hand" to refer to organized extortion, usually done by Italian criminal immigrants.

It's probably that the Continental Europeans are celebrating that the riff-raff and trash are leaving for America. The Black Hand is not the centerpiece of this cartoon, but rather emblematic (in the eyes of the cartoonist) of the character of the type of people who left for America.

It symbolises Italian criminal gangs who practiced extortion and exported it to the states from the late 19 century on. Basically the sopranos as it went on to become a completely accepted culture within America... Other characters symbolise murderers, thieves etc and the types of character the cartoon insinuates moved out of Europe to the USA