Dick Talmadge leads a double life: normally he is the indolent son of Parker Talmadge, the controlling power in the flour market, but sometimes he masquerades as "The Unknown," a masked champion of the people and leader of the fight against high prices. Parker Talmadge and sugar baron J. Malcolm Sweet agree that Dick should marry J. Malcolm's daughter, Sylvia Sweet, but Sylvia disapproves of Dick's worthlessness and considers The Unknown the man of her dreams. A raid on the profiteers' stored goods causes a panic among financiers, who unsuccessfully set detectives on The Unknown's trail, then stage a grand reception as a trap for their populist enemy. The plot fails, but Dick is unmasked in a fight. Sylvia changes her mind about the young man, and all ends happily.
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