In the fictional country of Moronika, three munitions manufacturers - Messrs. Ixnay (Richard Fiske), Onay (Dick Curtis) and Amscray (Don Beddoe) - are upset over their lack of profits due to the country's king, Herman the Sixth and Seven-Eights, pursuing a policy of peace instead of war.
Ixnay, Onay and Amscray meet with Moe Hailstone, Curly Gallstone, and Larry Pebble and tell them of their offer to run Moronika.