The title is from a poem by Carl Sandburg, and the design first appeared in The Calligraphy Calendar for 1983, by Margaret Shepherd. When you zoom in to see detail, remember that printing processes were not as sharp back then.
This is not exactly a new daily alphabet, but an explosion of Friendly Roman and Basic Italic to honor America's Independence Day. Each string of letters radiates from the center, just like the sparkles from a fireworks rocket, changing color as they cool down and start to drift away. Note the smaller bang of exclamation points at left and just to right of center, and the dim outlines of "The people, yes" who sit together in the foreground to watch.