A through-the-years story with songs and sentiments. A sailor rises from first officer to captain, gets married and has a son, but loses his command when his ship is rammed and the vessel is abandoned to save passengers. For years he lives in the countryside. Then his son, now grown, contacts his father's old shipmates and eventually their ship is put back into commission with its old skipper in command.

Follows the development of the variety theatre from 1892 to the present day, centred on a family in show business.