Charming and hilarious, but fake. It's a novelty item printed to look antique- biggest giveaways are the American dollars and "novelty" name for the brothel owner- F. A. Tasse. A madame at that period would not have had such a punning, bawdy name- it's vaudeville humor.
It's still old, just not authentic. It's a vintage piece of raunchy tourist merchandise, like an old-fashioned variant on the kind of things one would find at an Ocean City souvenir shop.