Most critics regard The Treasure of the Sierra Madre as a forceful study of greed, with praise centred on John Huston’s writing and direction and the performances of Humphrey Bogart and Walter Huston. Bogart’s portrayal of suspicion and moral deterioration draws particular attention, while Walter Huston’s philosophical prospector earns approval even from a sceptical review. The location shooting and convincing atmosphere also feature repeatedly, giving the adventure the realism that admirers find essential to its treatment of human weakness.
The disagreement concerns how much the film has to say about greed, and how persuasively it says it. The New Yorker finds the message simplistic and the direction sluggish, though it praises Walter Huston; Time Out sees pretension getting in the way of an enjoyable yarn. The spread is therefore broad: most find the drama searching and honest, while dissenters question its seriousness and pacing.
