Eddie inherits treasure, but he has to go to Egypt and compete with others before he can make free ice cream for kids.
At a music store Dot (Ethel Merman) sings "An Ear Full of Music." Her friend Louie (Warren Hymer) tells her she could inherit $77 million as a common law wife. On a barge in Brooklyn Eddie Wilson (Eddie Cantor) hides from his pugnacious brothers. He conducts an orchestra of kids and sings to Nora "When My Ship Comes In." Learning of Eddie's inheritance, his foster brothers invite him home; Eddie faints.
On the ship to Egypt Col. Larrabee (Berton Churchill) claims the money for financing the late Wilson's Egyptological expedition. Dot greets Eddie as his "mother," kisses him, and gets him to sign his name. She tries to get the paper by tickling him, but he rips his signature from the paper and gives it to her. Jerry Lane (George Murphy) tells Louie and the Colonel their claims are false. Louie tries to bump Eddie off the ship by blindfolding him, putting him in a wheelchair, and removing the railing; but Eddie survives. Eddie makes Jerry sing "Your Head On My Shoulder" with Jane Larrabee (Ann Sothern). In a minstrel show Eddie sings "Mandy."
At Alexandria Louie tells Dot his plans to have Eddie cut up, but a magician replaces Louie with a dog. Sheik Mulhulla (Paul Harvey) wants revenge for Wilson having taken his treasure. His daughter Tanya (Eve Sully) says Eddie saved her from a lion; but Eddie says she is lyin' because "it was a small dog." The sheik has 125 wives, cut down from 200 because of the Depression. Eddie remembers Nora in Brooklyn and sings "Okay Toots" to her photo. Dot and the colonel claim the treasure from the sheik, who proclaims death to the heir. They say Eddie is not the heir, but he proves he is. The sheik swore to kill the heir and imprisons the others, planning to marry the women. Eddie is stripped and prepared as camel soup until Tanya says that he kissed her on a camel. That means he must marry her. Ben Ali comes to shoot Eddie but helps him escape to the chamber of the dead, where they find the treasure. The sheik asks the spirits of his ancestors for advice, and the prisoners plead through the mummies. Eddie breaks out of a statue and takes off in a plane, flying to New York. In a color sequence Eddie Wilson opens a factory where ice cream is made by chorus girls for kids who get fat.
This comical, musical fantasy offers those suffering from the Depression escape entertainment. Eddie wants kids to be happy with shows and sweets. No one except the sheik seems to be bothered by the stealing of Egyptian treasure for Americans.