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One recurring problem in the Gildersleeve household is Leroy running through the house, wearing out his shoes faster than Gildy can replace them. In the morning, as Gildy and Leroy try to sneak out, they wake Marjorie. She complains that Leroy has been borrowing from her allowance and now owes her a whopping $1.80! Gildersleeve decides it is high time to teach Leroy a lesson about borrowing money, paying back debts, and maintaining good credit.
To demonstrate how credit works with friends, Gildersleeve asks Judge Hooker for a $100 loan when he arrives. Gildy doesn’t actually need the cash, but the Judge is taken aback by such a high-dollar request. Birdie then steps in with her own request for household expenses, exposing Gildersleeve’s own questionable money management skills. After scaring away the Judge and giving Birdie his remaining pocket cash, Gildy and Leroy head toward the bank. On the way, they pop into Floyd the Barber’s shop to ask for another small loan to prove their point.
Naturally, the Summerfield rumor mill starts buzzing. Telephone lines flare up across town with news of the Water Commissioner’s apparent financial ruin. Back home, Leroy fields calls from well-meaning neighbors offering charity. Overwhelmed by the endless ringing, Gildersleeve calls the operator to cancel his phone service altogether.
When Marjorie returns home upset after hearing the rumors on the street, she tearfully promises to do whatever it takes to lighten the family’s financial burden. Before Gildersleeve can set the record straight, the phone rings one last time—an anonymous friend has already paid off his telephone bill! Seeking refuge, Gildy heads to Peavy’s drugstore, only to discover both Peavy and Eve Goodwin treating him like a charity case too. Can Gildersleeve clear his name before his financial “lesson” completely ruins his reputation?
