Director Frank Capra explored the theme of the innate goodness of the young at heart, as personified by James Stewart, overcoming the evil schemes of black-hearted older men once before in 1939's Mr. Smith Goes To Washington, a scathing attack on corruption and misuse of power as demonstrated by the Taylor machine; a combination of local government, private industry and the mass media to manipulate public opinion and steam-roll the political affiliations of crooked magnate 'Boss' Jim Taylor.
Both Capra and Stewart served in World War II and their first film together in peacetime would be 1946's It's A Wonderful Life which takes the ideals of Mr. Smith and blends them with elements of Charles Dickens' A Christmas Carol to examine the life of George Bailey, a man who sacrifices his personal ambitions for travel and adventure for the better of those around him in the sleepy town of Bedford Falls which he yearns to escape.
The film also recapitulates the homespun wisdom and family values offered in Capra's first star vehicle for James Stewart, 1938's You Can't Take It With You in which he plays Tony Kirby the idealist son of wealthy and snobbish parents who disapprove of him dating the daughter of the highly eccentric neighborhood Sycamore family who don't share the Kirby's respect for money.
All three films are great but Capra and Stewart's collaboration reaches maturity with It's A Wonderful Life and structurally, on balance, it is the better film. In fact the movie's plotting is what makes it so remarkable, a less ambitious director would have started at the scene where George Bailey reaches the end of his tether on Christmas Eve and contemplates suicide, as he is convinced his life insurance policy makes him of more value to his family dead than alive, and then flash back to reveal his past. Instead we arrive at this point a good hour into the film after we have observed the course of George's life from a young age courtesy of Clarence Oddbody's orientation as his Guardian Angel; if Clarence's mission to save George is successful it will earn him his wings.
This episodic plot device allows us to become very familiar with the folks who live in Bedford Falls and discover how the Bailey family Building and Loan Association founded by George's father, allowed so many of them to afford their own homes and escape the clutches of the merciless landlord Mr. Potter who owns the slums in which so many of them are forced to rent at extortionate prices. George has always hoped to leave the small town and pursue a life of adventure but we see how at potentially life changing moments he puts his own aspirations aside for the sake of his family and when his father dies circumstances see to it that he stays once more to take over the day to day running of the Building and Loan firm.
George marries his childhood sweetheart Mary and in a key scene they …