I guess whoever had plastic surgery first set the bar for the rest of Hollywood. Plastic surgery can and often does give an unfair(?) advantage over natural looking people because suddenly those who opt not to go under the knife look plain or imperfect in comparison. However, fashion was a lot more forgiving those days. Women wore clothing that flattered and fit itself around the body, so all they had to be was healthy and in good shape and they were good to go. Now, clothes have to show either as little as possible or as much of the body as possible... I doubt any of those women, sadly, would've been able to keep up with the celebs of today if they stuck to their natural bodies but kept up with today's fashion. Also, film quality is far less forgiving. In the 40s and 50s, films were usually black and white, and nearly always soft-focus to some degree. Now, films have to be as sharp and as life like as possible. A 35 year old actress in 1950 making a film would have less to worry about than a 35 year actress in 2010 (although, actresses back in the day still had to worry about younger women taking their spot). This means that a 35 year old woman has more reason to opt for plastic surgery.
Let's not forget, women in those times DID have plastic surgery... Many of them had nose jobs. I know that's not the same as the various implants and injectables a lot of Hollywood indulge in today, but natural beauty hasn't necessarily been the most important thing for a long time. Technology and changing fashion, throughout the generations, have allowed Hollywood's, and I suppose the rest of the world's pursuit of eternal youth (or at least the perception and celebration of it), to strengthen. I agree that women back then were more elegant, and some were very beautiful, but fashion and ideals have to move on. I think there are some natural beauties out there still... Halle Berry, Scarlett Johansson, Penelope Cruz, Beyonce and even Lady Gaga have stuck to their original bodies and faces, only working out and wearing the right clothes/makeup/hair to enhance their image. I don't know how long these women will stay natural for, but they are an example that at least some people think its ok to look their best, rather than add stuff on just to look better.