The ad starts with the text "Some words on Progress by Frank Druffel".
The fictional president of Post Shredded Wheat speaks to the audience about progress and (tongue in cheek) the damage it's done throughout history.
He explains how Henry Perky invented Shredded Wheat in 1892, and that they've kept the same one-ingredient product. "All we did was make it spoon size. Did we go too far?"