At a lavish luncheon in Palm Beach, Walker Farr, a wealthy and idle young man, bets that he can live in perfect contentment as a penniless hobo and sets out to prove it. On the road, Walker meets Kate Kilgour and her fiancé, Richard Dodd, but upon his arrival in the town of Marion he learns that she is being forced into the marriage by her mother, who owes Richard $5,000.