Captain Lafitte receives word that Alicante, a young Spaniard, is to wed Dolores, the Rose of St. Augustine, whom he has not seen since childhood. He objects to the wedding. Lafitte captures Alicante, dresses in his clothes, and with Dalroy, his lieutenant, dresses as his valet, and Black Hawk, a Seminole Indian of his band, go to St. Augustine and pose as the suitor Alicante. Dolores falls in love with him as Alicante. Dalroy falls madly in love with her, is refused and betrays Lafitte to her father, the commandant. Lafitte is made prisoner and while Dalroy leads her father and soldiers to capture the camp of the Privateers, Black Hawk and Dolores rescue Lafitte from the dungeon. Black Hawk kills his jailer and they escape. The Privateers are attacked by Dalroy and Spanish soldiers and after a fight the most of them escape by boats to their schooner, which is at anchor off the shore. Alicante is rescued and news is brought of the escape of Lafitte and Dolores by a soldier sent by the Duenna. The fugitives are followed by the commandant and soldiers, who use a bloodhound to track them. They are fired on as they float down the bay on an improvised raft, are rescued by the Privateers and taken aboard the ship. Lafitte determines to capture Dalroy; the returning party is ambushed on the shell road. All are released except the traitor, and return to the vessel. The closing incident is of a very sensational nature, Dalroy being forced to walk the plank, the reward of treachery.