MGM weren't a big horror studio but they did have Tod Browning under contract in the '20s-'30s and he made a handful of strange and atmospheric horror/fantasy films for them. This one is typical Browning and reminiscent of the eerie and perverse silents he made with Lon Chaney.
Lionel Barrymore escapes from Devil's Island where he was banged up for embezzlement from his bank in Paris, which was actually committed by three of his former colleagues. He returns with a mad scientist who once experimented on shrinking living things in a crackpot scheme to save mankind...
However, the banker will use the technology to destroy his enemies, who grew rich and powerful while he rotted in his prison hell. So there's a lot of camera trickery of tiny people carrying out his revenge. Maureen O'Sullivan adds some contrasting sweetness as his lovely daughter.
Barrymore doesn't camp it up, even in his disguise as an old woman. Rafaela Ottiano is memorably menacing as the wife of the crazy inventor. The effects are decent for the period. And there's a superior score from Frank Waxman. It's just a low budget shocker, but worth seeing for fans of that sort of thing.