After the financial crisis of 2008 a lot of (anti) Wall street films were released, such as "Margin call" (2011, J. C. Chandor) and "The big short" (2015, Adam McKay).

Films about the financial system (not necessarily about Wall street) are however nothing new. In 1928 Marcel L'Herbier adapted a novel of the same name by Emile Zola. The novel of Zola is situated in the second half of the 19th century but L'Herbier modernizes the story to the roaring twenties. Contrary to the above mentioned movies L'Herbier made his film before the crash of 1929.

By the way in 1983 Robert Bresson made a film of the same name. This is however not an adaptation of the same novel by Zola, but an adaptation of "The forged coupon" by Leo Tolstoy.

In "L'argent" there are two rival capitalists. The hot blooded predator Nicolas Saccard (played by Pierre Alcover) and the cold blooded reptile like Alphonse Gunderman (played by Alfred Abel). Neither of them is very sympathetic.

On top of these characters Brigitte Helm plays with baroness Sandorf a sort of "femme fatale" avant la lettre. Avant la lettre because the film noir would appear much later.

The storyline is not the best part of the movie. It is rather simple and is rushed in the last fifteen minutes. The storyline revolves around the slogan "Money is a faithfull servant but a terrible master". This combination of a quasi profound slogan and simple storyline reminded me of the slogan "Head and hands need a mediator. The mediator between head and hands must be the heart!" from "Metropolis" (1927, Fritz Lang) a year earlier. This is not the only link between the two films, because Alfred Abel and Brigitte Helm also played in "Metropolis".

The strong point of "L'argent" is not the storyline but the ambiance. With very innovative cinematograhy the film sketches the hectic, oppurtinistic and sometimes panicky atmosphere at the stock exchange. Tribute to cinematograhper Jules Kruger, who also made "Napoleon" (1927) with Abel Gance.

Marcel L'Herbier's "L'Argent" clocks in at 195 minutes. Nothing strange about that you might think but this is a silent film, made in France in 1928 and dealing, not in the epic themes of a "Ben Hur", an "Intolerance" or a "Napoleon" but in the contemporary, in the everyday, though not in the mundane. The title translates as 'Money' and money permeates every aspect of this picture which is 'inspired by' rather than based on a novel by Zola. It may not be a masterpiece but it is quite extraordinary just as it is extraordinary to think audiences ever took to this film, set largely in the world of stock exchanges and high finance, which isn't just on the long side but is also sophisticated and challenging. It requires more than patience; it requires intelligence. The plot may be melodramatic, necessary at the time perhaps to draw its audience in, but it is a film that deals in depth with unusual themes. It is also superbly acted, (the large cast includes the great Brigitte Helm, Alfred Abel and in a small part, Jules Berry), photographed and edited. Indeed, this is one of the great 'lost' silent pictures and it really needs rediscovery.

This is a very welcome release in the Masters of Cinema series and whilst academics will no doubt seize the opportunity to use it as a tool in the 'teaching' of film the admirers of French Cinema will relish the chance to view and/or even own a genuine early masterpiece. Marcel LHerbier made some 58 films between 1917 and 1975 and by 1921 he had already explored the world of finance with Promethe, banquier but he trumped that fine effort three times over with this adaptation of Zola in 1928. The technique on display is awesome in its ambition and staggering in its execution as time and again L'Herbier pulls off brilliant effects not least a sumptuous party that was possibly inspired by Fitzgerald's The Great Gatsby which had been published some three years earlier. Though there is a substantial plot involving rival financiers, publicity stunts, solo flights, deceptions and seductions this is merely a peg on which to drape some of the most outstanding directorial flourishes in French Cinema. Unmissable.