I just saw this for the first time tonight. Sins of the Children, directed by Sam Wood and starring Robert Montgomery and Louis Mann, from 1930.
IT's very similar to It's a Wonderful Life, and it's final Christmas setting makes it a film worht looking at this season. It's available on the really quite good Roan label.
Check it out.
Sins of the Children on IMDB
Sins of the Children at Roan/Troma
