In "It's A Wonderful Life", Capra centres on the picturesque idyll of Bedford Falls and one George Bailey (James Stewart) who is full of grand aspirations for himself and gentle wishes for the world and other people. The character gives up one in favour of the other, and is constantly putting his best foot forward in the interests of benefiting those he loves.

In short, he's the definitive Capra character, one on whose back rests the identification of an entire generation due to his soulfulness and desire to help others. Capra's universality shines brightly through Bailey, even though (or perhaps because) he doesn't see how important he is.

The story takes a spiritual detour to angels in the stars talking with each other about the reinvigoration of the man's spirit, and how they observe Bailey and the town he lives in. Capra's abstract treatise around faith and human connection is conceived through the purest restorative means via their observation and intervention within Bailey's experiences.

George Bailey is a budding architect that has strong feelings for his childhood love. There is a tragedy and George finds himself at the centre of the legacy of his family banking business built on helping others. George carries on his family tradition of being a starry eyed dreamer like his father, and is staunchly opposed to the money grubbing bankers that clamour over the opportunity to control the firm in his father's absence.

The family bank is being competed with by a rival firm owned by Potter, that has a monopoly on the businesses within Bedford Falls and wants to amalgamate the bank within the firm. George pushes away any and all offers to compromise his principles of humanism and devoting life to others.

He constantly puts his own future on hold in the considerations of helping other people, and doesn't consider his own happiness in the equation. He refutes many opportunities that come his way, and makes choices that make others happy - but not himself. He is constantly talking about his aspirations to travel the world and build skyscrapers, but can never kick up the nerve to help himself the way he helps others.

The story reflects previous Capra stories like American Madness in the chaos of economic turmoil, the monopolising of local businesses under one name in You Can't Take it With You, the martyrdom and enduring spirit of Meet John Doe and Mr Deeds Goes to Town in the desire to distribute wealth among those who need it the most (and the tempted fate of Kay Arnold in Ladies of Leisure).

As Bailey grows more and more disillusioned with his life and the experiences weighing him down, he falls under the weight of Capra's cynicism amidst his compassion that also marred Mr Deeds, Jefferson Smith and Robert Conway. Stewart's performance in the final ten minutes is superb, witnessing the catharsis within his character arc is worth enduring the rough patches the character goes through.

The story then delves into the realm of moralistic fantasy in the third act as Bailey meets his guardian angel Clarence. This greatly uplifts the movie and provides the film with its most poignant and kinda on the nose revelations about the importance of a life, and the butterfly effect.

The final moments are quite cathartic in the Capracorn conclusion (the only film of Capra's I've seen thus far that actually earns that denomination) and endeared it to me greatly - but why was Bailey even made to reach that point of desperation thinking he didn't have any support from his community?

It's a very communal/universal variation on Borzage's theme "Being around the right people and environment helps one flourish and embrace one's true nature" much like what Capra did in Broadway Bill, Lost Horizon and Meet John Doe, but in that vein it hews much closer to fable like aspirations and fairy tales, rather than the realism of how Capra has conveyed the universal value of connection in past features.

Perhaps that is a perfect ode to end on for Christmas, and why the film has endured after a frosty contemporary reception that has long since melted away like snow on Christmas morning (as much as I prefer the way he handled realistic unity and connection amongst people - or even Borzage's who is still in my view the master of sentimentality).

I had my doubts about this film being as endearing as its reputation belies, but "It's a Wonderful Life" ends on a high note and epitomises the Christmas spirit of giving, to give its audience the gift of a moral tale that, while fanciful and schmaltzy at points, serves as a more complex take on the festive season that isn't afraid to buoy its enveloping spiritual lightness with darker overtures to overcome and make the piece whole.

Up next: State of the Union (1948)