Nora Helmer has years earlier committed a forgery in order to save the life of her authoritarian husband Torvald. Now she is being blackmailed.

John and Katherine Colby decide to put off parenthood until he has become wealthy. Their friends, Tom and Grace Donaldson, decide to start a family right away. While John works his way up to a position of power at a steel firm, Katherine begins to question the wisdom of their decision.

When retired New England skipper Captain Purcell finds Kit as a baby in a storm, he adopts the child, who grows up to be an adventurous youngster of the docks.