Free, White and 21
Wikipedia has an article about this phrase which did not originate with this film:
http://en.wikipedia.org/wiki/Free,_White_and_21
It's a creature of it's time, of course. It's a listing of things that would prevent you from doing what you wanted to in that era, which is fortunately over.
The past is a series of presents. The present is living history we are privileged to witness