In 1921 in a street called Melchiorgasse in the poor part of Vienna, Austria, there are only two wealthy people: the butcher Josef Geiringer and Mrs. Greifer, who runs a fashion boutique and a nightclub, patronized by wealthy Viennese. Annexed to the nightclub is Merkl Hotel, a brothel to which the women of the nightclub bring their clients. The film follows the lives of two women from the same poor neighborhood, as they try to better themselves during the period of Austrian postwar hyperinflation. They are Marie, who becomes a prostitute, and Grete, who at the last moment, is saved from that fate.
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