10: The clue in the hat

Once inside, Lottie agrees to let the others look at the hat. 

They now realise that it is made of paper and is called a ‘printer’s hat’ because printers used to make them out of newspaper. Here is how to make one. (It may be worth noting that the hat Juggins-the-False wears is made from A4 paper so any reader wishing to sport one about town - and thus look as debonair as the very false Juggins - may need to find rather bigger paper.)

They can see that there is writing inside the hat so, very carefully, they unfold it and this is what they find. But what does it mean?