Looks like Willie the Whaler is doing his part for the war effort, promoting the sale of war bonds in this February 2, 1942 issue of The New Yorker.
But what naughty word has he uttered? "...put the darbies on the blasted .......s"?
The word darbies is British slang for handcuffs - probably the missing word is bastards, since it's nice and alliterative along with "blasted."
And not a mention of larceny or alcohol. I guess it's too much to ask of Willie to avoid naughty language too.