Young idealist Richard Miller is selected as valedictorian for his New England high school commencement class of 1906 and intends to inject modern anti-capitalistic ideas into his speech. His father, Nat Miller, accidentally learns of it and interrupts Richard's speech before he can make a fool of himself. The small town later celebrates the Fourth of July with customary fireworks, picnics and the like, with Richard spending time with his girl, Muriel McComber, who promises she will allow him to kiss her one day. When Richard sends poems of love to Muriel, quoting the likes of Omar Khayyám and Swinburne, her father prevents her from ever seeing him again and forces her to write a letter denouncing him. Heartbroken, Richard drowns his sorrow in a local bar, drinking and smoking with a vamp called Belle, and comes home drunk. Alcoholic uncle Sid, who is used to the effects of liquor, nurses Richard back to sobriety, but Richard still must face the uncertain punishment of his father as he worries about his future with Muriel.