The Secret of Oz is a documentary film by William T. Still that further explores the connections between The Wonderful Wizard of Oz and the economic, monetary policies of the late 1800s and early 1900s. The film features interviews with economists, historians, and authors who delve deeper into the allegorical meaning behind Baum's story and how it relates to the monetary debates of the time.
The documentary argues that the Wizard of Oz can be interpreted as a commentary on the gold standard versus bimetallism (the use of both gold and silver as currency) debate, which was a major political issue in the US during this period. The yellow brick road, for example, represents the gold standard, which was seen as a rigid and inflexible monetary system that only benefited the wealthy. In contrast, the emerald city represents greenback money, which was seen as more flexible and able to support economic growth for all classes of people.
The film also explores the power dynamics at play during this time, which saw the wealthy elites, represented by the Wizard of Oz, controlling the monetary system to their advantage. The silver slippers (changed to ruby slippers in the movie) represent the people's ability to control their own monetary destiny and the importance of taking action to improve their economic situation.
Overall, The Secret of Oz provides a thought-provoking analysis of the historical and political context behind Baum's classic story and encourages viewers to think critically about the role of monetary policy in shaping society.