The film is known for 2 things: it's Raymond Griffith's best known starring role, and it's the "other" silent civil war comedy from 1926. The General is of course far better remembered today, but in it's time Hands Up! was the hit, while The General bombed.
The film stars Raymond Griffith as "Jack" a confederate spy entrusted with the responsibility of infiltrating and sabotaging a Union gold mine. Along the way he escapes a firing squad, courts 2 sisters, and teaches a band of Indians the Charleston. This is really fun stuff, with Griffith demonstrating his subtlely and elegance, and even a generated a little pathos. The final gag is one of the best payoffs you'll ever see.