Pretty sure the '40's Vic's had stainless blades.
When my Vic blades get ... "cruddy" I clan each blade separately (one blade open at a time) by rinsing each side with hot tap water, then wipe on a dish towel. If necessary, I re-wet,then scrub with toothpaste and a old toothbrusg, rins, dry, continue to the next blade, as needed.
After cleaning, I oil the joints with 3-in-One oil, or Hoppy's Number 9 Gun Oil, or motor oil ("Real" oil or synthetic, generally 10w-30 or 5w-30) or transmission fluid (usually Dextron, I had very few Ford's with an automatic, so rarely had any "F" transmission fluid on hand) or hydrolic oil, or 2 stroke oil. A few times I used olive oil (NO! NOT POOP EYE'S Gold Digga Hoe "girl friend"!) or Mineral Oil. It just deepended on what was available.
Of course if the knife blade(s) needed sharpened, I would sharpen using a "soft"/"medium" arkansas oil stone (with whichever of the above oils I had), and dry stropped on a leather or canvas strop or belt.