The young pianist Thomas Harvey finds the brig "Hurrying through the Waves". After a brawl, Harvey is abandoned alone in a lifeboat, cut adrift from its moorings. By a miracle, a fair maiden appears in the boat. She reassures him. Anglers salvage Harvey. There is a charming girl among them: Daisy. They tell him the legend of the nocturnal rescuer, Frasie Grand, who rushes through the waves. All sailors in distress have regarded her as a symbol. People have raised a monument to her. By the end of the carnival, Harvey sees yet another crime in progress: the demolition of the Monument to the Hurrying through the Waves. He is the only one to confront the rampaging mob. Harvey once again meets the little sweet Daisy who shares his dream.