In the carnival in Spain in the beginning of the Twentieth Century, the exiled republican Antonio Galvan comes from Paris masquerade to enjoy the party and visit his friend Capt. Don Pasqual 'Pasqualito' Costelar. However, he flirts with the mysterious Concha Perez and they schedule to meet each other later. When Antonio meets Pasqualito, his old friend discloses his frustrated relationship with the promiscuous Concha and her greedy mother and how his life was ruined by his obsession for the beautiful demimondaine. Pasqualito makes Antonio promise that he would not see Concha. However, when Antonio meets Concha, she seduces him and the long friendship between Antonio and Pasqualito is disrupted
| Directing | Josef von Sternberg | Director |
| Writing | Pierre Louÿs | Novel |
| Costume & Make-Up | Travis Banton | Costume Design |
| Directing | Sam Winston | Continuity |
| Crew | David Hertz | Treatment |
| Editing | Sam Winston | Editor |
| Camera | Josef von Sternberg | Director of Photography |
| Production | Josef von Sternberg | Producer |
| Production | Emanuel Cohen | Executive Producer |
| Art | Hans Dreier | Art Direction |
| Art | Josef von Sternberg | Art Direction |
| Sound | John Leipold | Music |
| Sound | Heinz Roemheld | Music |
| Writing | David Hertz | Writer |
| Writing | Oran Schee | Writer |
| Camera | Lucien Ballard | Director of Photography |
| Costume & Make-Up | Dot Ponedel | Makeup Artist |
| Sound | Herman Hand | Music |
| Writing | John Dos Passos | Adaptation |