This film's opening title card says: 1947, not 1940

I am aware of changes some studios actually used to make on the opening credits, when a film was re-titled, or re-released.
You can often spot a clumbsy "black-out" (sometimes it's grey, or white) over a bit of info, then something different added, right on top of the "blacked-out" portion on the screen.

That is NOT what we see on this film.

I have watched it several times, and the film's opening 'title card' (the opening credit with the film's title), has an UN-adulterated copyright date below it (along the bottom of the frame, where copyright dates are ALWAYS found on films of this era) of 1947, NOT 1940.

Some folks may find it hard to believe, in a way, because Joan Leslie --who NEVER achieved any kind of stardom, and was never more than a supporting actress (except in B-films) does looks young enough for the part of the 'green' contest winner, on her way to Hollywood.
--YET, even in '47, she was no great star who was above making 2-reelers.

In any case, the film's original title card (at the bottom) reads:
"COPYRIGHT MCMXLVII"

Having been in the film exhibition (theater) business for many years, and having been a film-buff since childhood, I'm a "copyright reader" from way back. I can't help but look at the copyright date of EVERYTHING I watch, films, shorts, cartoons, etc., and I naturally looked at this film's copyright, as well, when I first watched it.

I had my TIVO set to record the film that played right before this (on TCM).-- It was listed as a 90-minute time slot, so as my TIVO was set to pick-up a 90-minute film (and the film was only 60 minutes), it also picked-up this entire 22 minute short, which TCM used to fill out the 90-minute slot.

After checking here (IMDb) to see if anyone wrote a commentary (someone did, on 11/02/07), I saw that IMDb listed this short film with a 1940 release date.

I replayed my TIVO recording of this short, and re-played the opening several times (and even froze the frame) to make sure I wasn't seeing things, and it says: 1947 (in Roman numerals). And it was NOT adulterated. It appeared to be the original date, on the original title card.

Plus, when the short film showed Ronald Reagan and his then-wife, Jane Wyman, Ms. Wyman looked as she did in the LATE 1940's (and so did Ronnie). Neither of them appeared as young as they did in 1940.

I'm not an authority on THIS FILM, but I know an original title card when I see one.

cine'fic