People speak of the Lubitsch Touch first showing up in THE OYSTER PRINCESS, but that movie always struck me me as a a good romantic comedy, dimmed by changes in fashion, creaking a bit in age.
But this movie is the real thing: a silly story told with much flair and constant surprises. It begins with Lubitsch showing you a model of the set, like Penn and Teller showing you how they do the cup-and-ball trick, followed by a show that dazzles you: pantomime horses, venal monks and a little bit of E.T.A. Hoffman all fall under the thrall of Lubitsch and all of them, and the audience too, end up with smiles on their faces.
This movie is too good to more than hint at its wonders. If you have never seen a silent feature, see this one.