Click on the picture to see an enlarged version.
Early in January 1923, units from the French and Belgium army crossed the Rhine and occupied Germany's industrial heartland, the Ruhr Valley. Ostensibly, the cause of this invasion was Germany's failure to deliver 1,000 telephone poles, but the real cause was growing French alarm over the radicalization of German politics. The architect of the Republic's "Policy of Fulfillment," Foreign Minister Emil Rathenau, had been assassinated by a right wing group in late 1922, and acts of violence were becoming all too frequent.
In the uproar that followed the Rhineland Occupation, Hitler was kept busy giving speeches and addressing "mass rallies," but he apparently found time to issue this poster. While the subject is clearly the Allied occupation, Hitler has his own take--a racist one.
The caption at the bottom reads:
Hitler here joined other right-wing groups in raising the sensitive (but sensationalist) issue that French authorities were deliberately seeking to "bastardize" the German population of the Rhineland by using colonial troops. By moving away from his purely "Bavarian" roots, Hitler was broading his appeal.