An extremely successful and fundamentally honest businessman is lured into presidential ambitions, and is forced to make compromise after compromise until he withdraws from the race, determined to reform the system.

The deposed king of Brandovia, whose inhabitants spend their time exporting bologna and repelling invasions by neighboring Carps and Gloats, finds his way to America, where he earns a living as a dancing instructor, pursued by his former royal fiancee who still has the valuable pearls he gave her, with the king marrying commoner Mrs. Candle and returning with her to his now peaceful kingdom.