what year is this set in?

I originally assumed this was set in 1948 except for the old Jalopy, but that can be explained by 2 broke reporters owning a very old car. Much like Archie Andrews did. But then we see Nora in NY in long dresses, not the formal gowns the gf wore which tend to be long back then as it still is today. So I assume this is set before/after ww1?

I enjoyed the film btw, love these types of fantasy whimsical fairy-tale ish films/stories. Reminds me of my childhood or childhood imagination when those things could very well be true.

Of course, I don't really expect a response, just thought to contribute on a post on an old film.