Inflation

Edward Arnold plays the devil here, sitting in a big office, often conversing by phone with Hitler on how to destroy morale on the American home front. The Devil decides the best idea is to ignite inflation and get people grousing about high prices and then working at cross purposes to undermine the war effort.

There are examples shown - A young couple making more money than they ever had before due to steady work in munitions factories and going on spending sprees. A chorus dancer who has a run in her last pair of nylons tempted to go on the black market and buy what she needs. A businessman cashing in his war bonds to buy something he thinks his business really needs.

In each case the short shows how much their focus on the present could be hurting the war effort and causing inflation. I was rather surprised - FDR really did understand how economics worked and how inflation was fueled. In that he's a step above politicians today. He realized that there being more money in circulation due to war spending and less supply due to manufacturing have a war focus would mean inflation. He also understood that his price controls could be circumvented by a black market for goods. His only weapon against it was shaming the public into not turning to that black market, which is what is happening in this short.

It's all very amusing, with Arnold as the Devil laughing maniacally at the idea of American women in bidding wars over luxury items like fur coats and talking to Hitler on the phone like he's a tedious colleague, but it gets its economic message across at the same time. Recommended for students of film history.

Inflation (1942)

*** (out of 4)

WW2 propaganda short features Ester Williams in a small role in her film debut. The film tells the story of how Adolf Hitler calls the Devil (Edward Arnold) and asks to make American's start spending more money so that their war efforts can be washed down the toilet. Mr. and Mrs. Smith (Stephen McNally, Williams) begin a shopping spree not knowing what they're doing to the country and their souls. It's rather amazing to see how far these shorts would go in terms of the war and one can't imagine any actors doing something like this today. Arnold wasn't the biggest star in Hollywood but he did have countless lead roles at MGM and was a fairly well known face. He is quite good in his role of the Devil and you can tell he's having fun. Williams is pretty much centered in a thankless role but she isn't too bad.

The Devil (a chortling Edward Arnold) und der Führer (or at least the phone-voice of der Führer) plot to use inflation to weaken 'the arsenal of democracy' by encouraging Americans to horde, cheat on rationing, cash in war-bonds, extravagantly spend on credit, and in general ignore the pleading of F.D.R. to show fiscal restraint and responsibility. Stephen McNally and an unusually dry Esther Williams are Mr. and Mrs. Smith, stand-ins for 'typical American' consumers who finally 'get it' when they hear a radio address from the President explaining the strategic necessity of financial self-control. The film's message is not subtle and after 15 minutes, becomes a bit repetitious but, as economics lessons go, the old home-front propaganda-short is imaginative and entertaining. The best parts are Satan's art-deco office, his insincere commiseration with Hitler about the large 'consignment' of German soldiers who just arrived in hell from the Russian front (and who appreciate the warmth), and his devilishly seductive assistant (Vicky Lane) with her self-lighting cigarettes and infernal hairdo. Vintage fun.

In this wartime short subject Edward Arnold looks like he's having a grand old time playing Mephistopheles planning with one of his number one supporters over in Germany the economic destruction of the USA through Inflation. I wonder if the folks at MGM from Louis B. Mayer on down knew that among Adolph Hitler's other interests was one in the occult. He may really have been trying to communicate with the devil, especially as the war started going against Germany.

Arnold between chuckles on the phone to Hitler gives us a short economics lesson about how the evils of inflation can cripple the American economy and thus the effort on the home front to back our troops in battle. Actually not a bad lesson to learn right now as we are going through an inflationary cycle at the moment.

Inflation is also significant as the screen debut of young Esther Williams. The former swimming champion and Olympic hopeful until the 1940 games were canceled had signed an MGM contract and went through the usual preparation back then that contractees had to go through. This short subject where she plays Mrs. Joe Smith American opposite Stephen McNally was a trial run so to speak. But Esther doesn't get near a pool.

Anyway though to see Arnold ham it up and love every minute of it, put Inflation on your shopping list if it won't bust the budget.

An MGM Short Subject.

In a phone conversation with Hitler five months after Pearl Harbor, a delighted Devil describes how INFLATION can win the War for the Axis as easily as bullets & bombs.

This is an imaginative little film which effectively alerted the American public to the 5 ways in which inflation could be unleashed on the economy:

••••• Impulse or overbuying ••••• Buying on the Black Market ••••• Hoarding food & supplies ••••• Breaking the price ceilings ••••• Cashing in War Bonds

Edward Arnold is at his most sardonic as The Devil; playing his role as if Lucifer were a corrupt businessman, Arnold gets to ham it up most deliciously. In her first film role, Esther Williams plays a typical young housewife who learns about the evils of inflation from an FDR radio broadcast.

After Pearl Harbor, Hollywood went to war totally against the Axis. Not only did many of the stars join up or do home front service, but the output of the Studios was largely turned to the war effort. The newsreels, of course, brought the latest war news into the neighbor theater every week. The features showcased battle stories or war related themes. Even the short subjects & cartoons were used as a quick means of spreading Allied propaganda, the boosting of morale or information dissemination. Together, Uncle Sam, the American People & Hollywood proved to be an unbeatable combination.