Fred MacMurray stars as a US Army misfit who, with pals Albert Dekker and Gilbert Roland, roam the west in search of adventure. Arriving in a small town, they befriend the elderly newspaper editor (Arthur Allen) and his young granddaughter (Betty Brewer). The trio learns that the community is under the thumb of a covetous land baron (Joseph Schildkraut), who is endeavoring to push out the ranch owners and take over the territory.

In 1890, two British expatriates, Robert Herrick and Huish, and German Captain Jakob Thorbecke, are commissioned to sail a Yankee schooner called The Golden State , whose captain and crew have died of smallpox. From Tehua in the South Seas to Australia, they are to deliver a cargo of champagne. Thorbecke decides to head for Peru, however, so he can sell the merchandise and pocket the money. While sailing, Faith Wishart, daughter of the deceased captain, comes out of her hiding place on board and, by briefly holding Thorbecke at gunpoint, demands he make the delivery.