The story centers around Gerard Hale, a wealthy and privileged young man who squanders his inheritance through gambling and a lavish lifestyle in Monte Carlo. After hitting rock bottom and being disowned by his family, Gerard attempts to rebuild his life, initially through less-than-honorable means. He returns to America, determined to regain his fortune and the respect of his loved ones, particularly his father and the woman he hopes to marry. The novel follows his struggles, his attempts at self-improvement, and the challenges he faces in a society that judges harshly. It's a tale of social climbing, moral compromise, and ultimately, the possibility of forgiveness and second chances.