In 1882, Mark Twain published a delightful fairy tale "for young people of all ages"; 45 years later, Warner Bros., inspired by the real-life coronation of Edward VII, created a lavish screen version starring radio favorites Billy and Bobby Mauch in the title roles and Errol Flynn as their dashing savior. As Jane Seymour (Helen Valkis), consort of King Henry VIII (Montagu Love), gives birth to the heir to the throne, the later Edward VI (Bobby Mauch), Tom Canty (Billy Mauch) is born in the nearby slums. Years later, as King Henry is near death, providence brings the two together and they discover that they share a striking resemblance. Having changed clothes with Tom during play, Edward Tudor is mistaken for a pauper by the Captain of the Guard (Alan Hale) and evicted from the palace. In contrast, Tom is believed to be the Prince of Wales by all of sundry and, when protesting, is treated as mentally unsound. Only the Earl of Hertford (Claude Rains), the king's scheming advisor, realizes the truth but keeps quiet to further his own career. With a price on his head, the real Edward lives the life of a pauper among the thieves and beggars of London, befriended only by Miles Hendon (Flynn), whom he, to Miles' great amusement, creates an earl. But despite his skepticism, Miles is right there to rescue Edward from the murderous Captain of the Guard and return him to the palace just as Tom is about to be crowned king. Proving his true identity by locating the missing Seal of England, Edward is restored to the throne and Hertford is banished from the realm. Miles is recognized for his bravery and Tom is made a ward of the king for life.