Oh I see what you mean now. I’d guess it’s because you grab the handle and slice down to complete the loop. They should’ve checkered and contoured that handle though lol.There is a historical significance that is related to phone wiring.it actually may be extremely boring but I found it interesting.
It's called a knife switch.
Yes I love stuff like that. I'm sure many of these historical origins are hard to prove but non the less fun.Never knew that that’s where the term “jack” came from. Interesting!