Hans, a mouse from Germany, comes to America to visit his cousin Willie, and learns about the wonders of the capitalist system.

Sylvester is a rich cat, courtesy of his deceased mistress, who has left him $3 million. His alley cat friends, hope to sponge off his good fortune, and Sylvester is eager to share with them. But Elmer Fudd, as Sylvester's new financial advisor, lectures him on investing his wealth in business and industry.

Elmer Fudd is the progressive King of industrial Elves. He visits an outmoded shoemaker's shop to extol the virtues of mass production capitalism to the shoemaker, whose pet cat, Sylvester, uses the magic word, "Jehosophat" to turn Fudd's elf helper into a mouse and chases him around the shoemaker's shop.