If you see this film today and know nothing about the history of animation, you'll probably be totally unimpressed or even hostile towards the film. After all, it's VERY simply animated and has no sort of traditional narrative. Instead, it's a very surreal, almost stream of consciousness, sort of short film. A guy (presumably a drunk or drug addict) sits off to the right side of the screen as all sorts of drawings keep morphing into other drawings--some of which are obviously meant to poke fun of or provide warnings against various intoxicants. In particular, there's a jab at absinthe--an alcoholic beverage which was banned from the early 20th century until very recently because of its presumed deleterious effects (which, incidentally, have been disproved and the drink is now being legally sold for the first time in nearly 100 years). Odd and worth seeing if you have a fascination with early cartoons. And, incidentally, I've seen quite a few early animations similar to this in style but without the drug/alcohol references.
Review of The Hasher's Delirium
