Checking my AFI reference book, the movie was filmed between late February and March 1933, and released very shortly thereafter (turnover times between filming and film releases back then were astonishingly quick).
More trivia is that blonde leading lady Karen Morley was a big-time radical lefty.
I can believe that.
1933 was also the year the utopian novel Lost Horizon was written. Wanna laugh? Watch this pinko wet dream of a movie.