An illiterate stooge in a traveling medicine show wanders into a strange town and is picked up on a vagrancy charge. The town's corrupt officials mistake him for the inspector general whom they think is traveling in disguise. Fearing he will discover they've been pocketing tax money, they make several bungled attempts to kill him.

Set against the backdrop of WWI Europe, a man and woman of different classes are brought together by their love of Lippizan horses.

After saving a tramp from suicide, a millionaire takes his clothing and disappears. Word is out that he will give a million dollars to anyone who is kind to a tramp.

Sally (Jean Parker) is engaged to be married, loves dancing and kids. But her life is ruined when an accident cripples her and her betrothed magnanimously offers to not back out of the marriage. After rejecting his offer she starts a doll shop and tries to save for an operation. From her doll shop window she watches children and talks to Jimmie (James Dunn) the ice cream man. She wants to know Jimmie better, but is terrified of rejection.

The friendship between two orphans endures even though they grow up on opposite sides of the law and fall in love with the same woman.