Ambassador Joseph Davies is sent by FDR to Russia to learn about the Soviet system and returns to America as an advocate of Stalinism.

The greedy nephew of eccentric Matilda Reid seeks to have her judged incompetent so he can administer her wealth; but she will be saved if her three long-lost adopted sons appear for a Christmas Eve reunion. Separate stories reveal Michael as a bankrupt playboy loved by loyal Ann; Mario as a seemingly shady character tangling with a Nazi war criminal in South America; Jonathan as a hard-drinking rodeo rider intent on a flirtatious social worker. Is there hope for Matilda?