In turn-of-the-century New York, young Peggy (Kay Francis) falls in love with the wealthy Monte (Gene Raymond), and they move into a luxurious home. But, just after Peggy gives birth to a daughter, an old lover confronts her in a jealous rage. The argument turns violent, the lover dies, and Peggy is sent to jail. Monte is killed in World War I, and, when Peggy is released, she falls in with an amoral gambler. Later, her life tragically intersects with the life of the daughter she never knew.