Upon the aftermath of a wagon train massacre, two people are awakened by a raging thunderstorm, only to find they are the sole survivors of the mayhem. One, is a Cheyenne warrior, the other, a young white girl, both arch enemies in the present wars over territory and land.

Falsely accused by the corrupt Governor Elden of Charleston of fencing stolen pirate booty, young Davey Crandall and friend Tom Botts buy passage on the ship of local buccaneer Bloodthirsty Ben. They avoid being killed by faking a case of the pox, which causes the panicked captain and crew to desert the ship. The two find themselves alone, and when a lucky cannon shot hits a mast on a British ship, they find themselves mistaken for pirates. They sail to Tortuga, where they recruit such notorious corsairs as Henry Morgan, Captain Kidd, Anne Bonney, and Blackbeard to lay siege to Chaleston and expose the villain Elden.

Emery Slade was one of the brightest stars in Hollywood in 1932, but by 1949 his career has hit the skids. Fortunately, he is able to convince studio head Melville Crossman to cast him in the adaptation of a hit Broadway show. Crossman has one condition: Slade must travel to New York and convince the female star of the stage production to join the film. Slade goes, but, when he eyes the winsome Julie Clarke, he hatches a different scheme.

Two U.S. Treasury ("T-men") agents go undercover in Detroit, and then Los Angeles, in an attempt to break a U.S. currency counterfeiting ring.