On in the top photo, at the center of the "panel" is a nickel-plated cup, that once held a chunk of Galena crystal. The little post & arm to the right had a pointed wire that was "dug-into" the face of the crystal. This "crystal detector" was the heart of early radio.
The two switches controlled the various "Taps" on the tuning coil on the underside.
To listen, one connected a set of high-impedance "telephone receiver" headphones across on set of binding-posts, the other pair of binding posts were probably connections for "Antenna" ( "Aerial" ) and "Ground", one each.
George, and other sharp-eyes, the Monarch record was not the only item that got re-purposed in this cause... if one looks closely at the picture of the under-side, the strip of wood that appears to be a bottom-stiffener for the two "wiper switches", was harvested from a wooden carpenter's rule... probably a box-rule, or perhaps a yard-stick.
AND, the form that the tuning-coil is wound on appears to be the classic Oatmeal-box.
I'm hoping that the Monarch record was either hoplessly cracked or had a big "bite" out of it ...
(Can anyone identify the title from the catalog number still visible, 3319 ? )
