Walking along with his bulldog, Charlie finds a "good luck" horseshoe just as he passes a training camp advertising for a boxing partner "who can take a beating." After watching others lose, Charlie puts the horseshoe in his glove and wins. The trainer prepares Charlie to fight the world champion. A gambler wants Charlie to throw the fight. He and the trainer's daughter fall in love.
A shipowner intends to scuttle his ship on its last voyage to get the insurance money. Charlie, a tramp in love with the owner's daughter, is grabbed by the captain and promises to help him shanghai some seamen. The daughter stows away to follow Charlie. Charlie assists in the galley and attempts to serve food during a gale.
Charlie is released from prison and immediately swindled by a fake parson. A fellow ex-convict convinces Charlie to help burglarize a house.
A tramp steals a girl's handbag, but when he tries to pick Charlie's pocket loses his cigarettes and matches. He rescues a hot dog man from a thug, but takes a few with his walking stick. When the thief tries to take some of Charlie's sausages, Charlie gets the handbag. The handbag makes its way from person to person to its owner, who is angry with her boyfriend who didn't protect her in the first place. The boyfriend decides to throw himself in the lake in despair, so Charlie helps him out.