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Reggie Dillingham, a socialite who has squandered all but $70,000 of his million-dollar inheritance, is upbraided by his attorney, who bets the young man that he cannot support himself for six months. The attorney invests the remaining funds while Reggie sets out to find a job. He fails at his first few attempts, but when he photographs newspaper publisher and political boss Clint Taggart in a compromising situation, Reggie is hired as managing editor to maintain his silence. Immediately after taking charge, Reggie liberalizes the paper's editorial policy and falls in love with Clint's secretary, Mary Ryan. With Mary's help, Reggie discovers that their boss is involved in a bootlegging operation and uses Clint's own paper to expose him. Despite threats from his employer, Reggie refuses to resign, and employs the help of his loyal staff in resisting the bootlegger's thugs. Following Clint's arrest, Reggie is informed by his lawyer that his money has been doubled through a fortunate investment.