Set in the Cafe de l'Alma in the Chaillot district of Paris. It is said that Molière, Racine, and La Fontaine used to frequent this cafe.
But these days a group of corrupt corporate executives are meeting. They include the Prospector, the President, and the Baron, and they are planning to dig up Paris to get at the oil which they believe lies beneath its streets. Their nefarious plans come to the attention of Countess Aurelia, the benignly eccentric madwoman of the title. She is an aging idealist who sees the world as happy and beautiful. But, advised by her associate, the Ragpicker, who is a bit more worldly than the Countess, she soon comes to realize that the world might well be ruined by these evil men—men who seek only wealth and power.
These people have taken over Paris. "They run everything, they corrupt everything," says the Ragpicker. Already things have gotten so bad that the pigeons do not bother to fly any more. One of the businessmen says in all seriousness, "What would you rather have in your backyard: an almond tree or an oil well?"
Aurelia resolves to fight back and rescue humanity from the scheming and corrupt developers. She enlists the help of her fellow outcasts: the Street Singer, The Ragpicker, The Sewer Man, The Flower Girl, The Sergeant, and various other oddballs and dreamers. These include her fellow madwomen: the acidic Constance, the girlish Gabrielle, and the ethereal Josephine. In a tea party every bit as mad as a scene from Alice in Wonderland, they put the "wreckers of the worlds joy" on trial and in the end condemn them to banishment—or perhaps, death. One by one the greedy businessmen are lured by the smell of oil to a bottomless pit from which they will (presumably) never return.
Peace, love, and joy return to the world. Even the earthbound Pigeons are flying again.