Captain Selmore, the host of a T.V. cartoon show, is up to his usual tricks. He's making a frantic sales pitch to his young audience for the latest gimmicky toy, the iron whirligig. Two of the Captain's regular viewers, Pete and Joe, are excited by the Captain's spiel and beg their mother to buy the toy for them. Their father, however, has his doubts and says no. The boys are determined to work out some way to get it after all. Pete tries to persuade Joe to use the money that he's been saving for a bicycle, but Joe has begun to have his own doubts about the real value of the toy. The brothers talk over the pros and cons of the purchase and then go off to a store to inspect the iron whirligig to see for themselves whether it's really as spectacular as Captain Selmore has claimed. Pete is all the more enthusiastic about the toy, but Joe hasn't yet made up his mind.