It is related in the name of the Ten Idlers¹:  they debated what is better: a Bris (circumcision) or a death. Both at a Bris and a death (on a yahrzeit) it is customary to drink liquor.

They understood that a Bris is more worthwhile since a Bris will eventually result in a death.²

I.F.

Israel Wallach

247 East Broadway

1. The concept of Ten Idlers appears in the Talmud and refers to a quorum of scholars who dedicate themselves completely to the study of Torah, to the exclusion of engaging in work. Here it is used in jest as comedy from the “loafers gallery.”
2. I.e. a birth will always result in an eventual death.