Nat Alden, an enthusiastic but unlucky promoter, fails in a venture and is evicted from the office of Mr. Grubbell, a capitalist involved in the deal; outside he meets Dan Mason, an old Army buddy, who is now Grubbell's chauffeur.  Nat induces Mason to take leave and drive him to his home in a Rolls-Royce, for the townspeople have been led to believe he is a millionaire.

Nat is met by a brass band and cheers, and the leading citizens press him for charity contributions.  He convinces the people that the local waterfall will bring wealth; with a fake check he buys the power franchise.  A capitalist offers to buy him out, and he accepts the offer to cover his check.  But Grubbell appears and denounces Nat and Mason as crooks.

Then Grubbell learns that the franchise is genuine and makes a better offer.  Nat accepts and settles down with Phyllis, who had rejected him as a millionaire.