Capra describes this as "one of the first Hollywood films to grapple directly and openly with the Depression's fears and panic." The wild, upbeat story stars Walter Huston as a youthful and idealistic bank president who opposes his ultra-conservative Board and makes loans on faith to small businesses. When a cashier engineers a theft, rumors run wild about the amount of the loss and depositors start a run on the bank. In the end, it is those "little people" who received the loans who come to the rescue of the bank, returning their money and helping to restore confidence. David Shepard, writing for the American Film Institute, describes American Madness as "Columbia's contribution to the anti-hoarding campaign...an important film, not only because it is a keepsake of the Depression, but also because it proved that Hollywood once believed in its ability to shape the behavior of a mass audience and was willing to try and lead millions of people to their own political and social destiny." Capra calls it "a shocker. It created controversy among critics and bitter contention in financial circles."