Early French political cartoon/caricature postcard depicting President of France Jules Grévy
François Judith Paul Grévy (1807- 1891), known as Jules Grévy, was a French lawyer and politician who served as President of France from 1879 to 1887.
The reference appears to be to events in December 1887, when Grévy was compelled to resign due to a political scandal that started after his son-in-law, Daniel Wilson, was found to be selling awards of the Legion of Honour.