Based on the play, The Prince Consort, by Jules Chancel and Leon Xanrof, a queen marries a playboy, who does not want to be always taking her orders.
In Paris a husband catches Count Alfred Renard (Maurice Chevalier) with his wife, and the Sylvanian ambassador (E. H. Calvert) sends Renard back to Sylvania, saying his wife told him everything. Alfred sings his farewell to Paris.
In the Sylvania palace Queen Louise (Jeanette MacDonald) in bed sings "Dream Lover" and then takes a bath. Her ladies want her to marry; but her ministers have given up because it is too difficult. Alfred presents himself to the Queen as the returned military attaché. She reads the report of his scandalous affairs and orders him to grow a beard. He says he looks bad in a beard and suggests that he stay with her. She cancels the beard and invites him to dine with her.
Alfred's servant Jacques (Lupino Lane) sits and talks with the maid Lulu (Lillian Roth). They and ministers watch hopefully as the Queen and Alfred dine. They go into her boudoir and close the door. Alfred kisses her hand and sings "You Are My Ideal, My Love Parade." She sings too, and they kiss.
The Queen and Alfred are wed. He orders the cannons to stop, but he is ignored. Lulu wants to marry Jacques and kisses him. They sing "Let's Be Common."
Four weeks later the honeymoon continues. The Queen reviews the troops and sings. Alfred tells Louise that he has nothing to do. He can't even get breakfast without the Queen. Alfred sings "Nobody Is Using It Now." Louise plans to attend the opera opening with Alfred. The ministers tell her that he must appear happy or they will lose their loan from Wall Street. Alfred gives Louise a plan to revive their economy, but the Prime Minister (Lionel Belmore) rejects it. Louise tells Alfred not to interfere in state matters and orders him to be in good humor at the opera.
Lulu and Jacques and the male and female servants disagree about who is right. Alfred is not in uniform and tells Louise that he is going to Paris, and he leaves. She sings "Dream Lover" again and cries.
Queen Louise attends the opera without Alfred, but then he comes in smiling and in uniform. He tells her to beg him to stay. Alfred says that after the loan is signed, he will file for a divorce.
Louise in bed alone cries. She knocks on Alfred's door. He is packing and goes to her room for clothes and returns to his room. He tells Louise to leave, but she refuses. She says she will go to Paris with him. So Alfred says that he will stay, but she must be punished. She suggests that he take command of the state and their home.
This musical comedy satirizes weak monarchies that must
rely on loans from American capitalists to survive. The idea of
a man having to submit to every whim of a woman goes against tradition,
and he manages to assert his dominance. This result reflects the
monarchical model of it being one way or the other without equality.