When their grandfather dies, Ted and Monty Mulligan have the chance to inherit a large fortune, but on the condition that they live together for at least six months. Despite their very different habits and personalities, they both share the common thread of being broke.
While waiting to receive their inheritance, they embark on criminal adventures that have unexpected outcomes. They begin by kidnapping a banker's daughter with the intention of demanding a ransom, but discover that the banker is quite happy to get rid of her.
Later, they attempt to assault a gold shipment, but clash with another gang with the same objective. During the clash, Ted is injured, falls into the water and is swept away by the current. Meanwhile, Monty succeeds in defeating the opposing gang and is welcomed as a hero in the village, where he is promised in marriage to the girl from whom he also wants to run away.
Fortunately, Ted reappears on the scene and saves Monty from a dangerous marriage, putting an end to their criminal adventures.