Prince Nikki, Lieutenant of the Guard in pre WWI Vienna, is flat broke, but the only advice he gets from his parents is either to shoot himself or to marry money. During the Chorpus Christi parade his horse accidentaly hurts poor Mitzi, the daughter of inn-keepers in a Viennese suburb, who is, according to the wishes of her parents, going to marry the butcher Schani. When Nikki visits her at the hospital, they fall in love, much to the dislike of her parents and Schani. Nikki’s parents, meanwhile have arranged a prospective marriage with Cecilia, the limping daughter of a very rich non-aristocratic industrial. Due to the fact, that Nikki’s father is a general in the Austrian-Hungarian Army, resitance is useless. When Mitzi, after hearing of it, is still refusing Schani’s proposal, he vowes to shoot Nikki when he leaves the church.
“Speedy” loses his job as a soda-jerk, then spends the day with his girl at Coney Island. He then becomes a cab driver and delivers Babe Ruth to Yankee Stadium, where he stays to see the game. When the railroad tries to run the last horse-drawn trolley (operated by his girl’s grandfather) out of business, “Speedy” organizes the neighborhood oldtimers to thwart their scheme.
Charlie, a wandering tramp, becomes a circus handyman and falls in love with the circus owner’s daughter. Unaware of Charlie’s affection, the girl falls in love with a handsome young performer. Charlie’s versatility makes him star of the show when he substitutes for an ailing tightwire walker. He is discharged from the company when he protects the girl from her father’s abuse, but he returns and appeals to the handsome performer to marry the girl. After the wedding the father prevails upon them to rejoin the circus. Charlie is hired again, but he stays behind when the caravan moves on.