I'm not sure about that. If it was meant to be anti-racist it wouldn't have depicted them as charcoal-black and ape-like. The "jitterbug" label and their dancing motions seem to be a smear against "black music," the fast-paced jazz and swing that were birthed out of the spiritual songs of slaves (later evolving into rock and roll, and hip-hop). The drum, trumpet, and vinyl record would reinforce that point. I don't think the cage represents the evil of oppression, but rather the suggestion that black people are monkeys who belong in zoo cages.

The racism of the early 20th century was extremely blatant and vulgar at times. We need to view this through a lens of the culture of the era. The ape caricatures of black people don't surprise me, it's the negative depiction of the KKK hood and noose that caught me off guard, because the messages are so mixed.