Vittorio De Sica is a teacher struggling to take care of his family and always dreaming that Parliament will increase the salaries for teachers and life will become easier for his wife, Maria Mereander, and kids. An Indian prince (Sabu) visits Italy, is assisted by the teacher and gives De Sica a baby elephant as a reward. This upsets the landlord, Nando Bruno, the other tenants, and the neighborhood. He takes the elephant away but, like Lassie, it comes home.
