Robert Stevens robs the bank where he is employed, and through the efforts of Calvin Stedman, the prosecuting attorney, he is sentenced to six years' imprisonment. While in jail his wife dies and his little daughter, Agnes, is placed in a convent. At the expiration of his sentence, Stevens locates his daughter and settles in Arizona, assuming the name of Stephen Rodman. He prospers and later is elected governor. Agnes, now in an Eastern school, is first to hear the good news, and tells her chum Dora Prescott. Will Prescott, Dora's brother, is in love with Agnes, and before the closing of school, he sends her his photograph. Dora returns to her home in New York and Agnes to Arizona. Will Prescott is cashier of the Jefferson National Bank, and Ned Seabury, his chum and assistant, is in love with Dora. Calvin Stedman, now counsel for the bank, is in love with Dora, and when he learns that she is engaged to Ned, he plans to be revenged. Agnes confesses to her father that she is in love with Will. She receives an invitation to visit the Prescotts and is delighted when her father gives his consent. Ned and Will speculate in stocks through Arnold Kirke, a broker, and Ned wins. Stedman sees Ned in Kirk's office, and, knowing that speculating is contrary to the rules of the bank, he decides to tell Israel Cohen, the president. Kirke is on the brink of ruin, and, to save himself, he begs Will to lend him some bonds, promising to return them after showing them to his creditors. Will is indebted to Kirke, and lends him bonds belonging to the bank. Stedman informs Cohen that Ned is speculating. Governor Rodman comes east to meet his prospective son-in-law and is introduced to Will. A panic occurs, and Kirke disposes of the bonds loaned by Will. Cohen's bank is also in trouble, and Will is worried. Governor Rodman decides to tell Will his secret before the latter marries Agnes, and confesses that he served time in prison for a bank theft. Will realizes that he is not worthy of Agnes, but if he breaks his engagement Agnes will believe it is on account of her father's crime. Kirke commits suicide. Calvin Stedman is instrumental in bringing about Ned's discharge, and when the bonds are discovered missing, Ned is placed under suspicion. Stedman is introduced to Governor Rodman and recognizes Robert Stevens, the ex-convict. Rodman is overcome at his discovery. Stedman tries to turn Dora against Ned by stating that her lover is a defaulter, but he is unsuccessful, as Dora believes Ned to be innocent. Will confesses to Agnes that Ned is innocent and that he took the bonds. Agnes half faints when she realizes that Will is telling the truth, but assures him of her love despite everything and plans to save Ned. The directors of the bank hold a midnight meeting at the president's home to decide what action to take. Agnes accompanies her father to the meeting, and pleads with him to make any proposition that will save Ned. Cohen is surprised when Agnes and her father are announced. Rodman is granted a private interview and tells Cohen that he is willing to supply the funds to save the bank if Ned is not prosecuted. Cohen promises to do all he can and to present the Governor's proposition before the directors. The meeting is called to order and the investigation is conducted by Cohen and Stedman. Ned pleads that he is innocent of the charge. Due to his having speculated in stocks, sentiment is not in his favor, and his statement in his own defense is not impressive. Stedman accuses Ned and Ned is wild with rage. Cohen submits Rodman's offer, but Stedman opposes its acceptance and discloses the fact that Rodman is an ex-convict. Rodman admits the charge, and pleads with the directors to allow him to save Ned from the disgrace he suffered. Stedman again refuses to agree. John Pendleton, one of the directors, realizing that the bank is on the brink of ruin, offers to advance the funds necessary to tide the bank over the panic. Ned refuses to confess and is left in the hands of the law. Will contemplates suicide, but his courage fails him and he finally gives himself up. Governor Rodman makes good the amount of Will's defalcation. Governor Rodman returns to Arizona and resigns his office. Ned is reinstated as cashier of the bank and marries Dora. Will, due to the bank affair, is unable to hold the humblest of positions, and returns home time and again utterly discouraged. Agnes has been loyal to him through all his trouble, and comforts him. Will is overjoyed when Cohen hands him a letter from John Pendleton offering him a position in his factory. Will accepts, and leaves with Agnes to start life over again.