Bob Naughton and Eddie Connolly are identical-twin brothers that were separated in infancy. Bob is raised by a rich lawyer, has all the advantages, but is a drunk with no moral character. Eddie is a pianist in a speak-easy but a man of high character. Bob commits a murder and Eddie is blamed and faces life in prison.
As a penalty for fighting fellow classmates days before graduating from West Point, J.E.B. Stuart, George Armstrong Custer and four friends are assigned to the 2nd Cavalry, stationed at Fort Leavenworth. While there they aid in the capture and execution of the abolitionist, John Brown following the Battle of Harper's Ferry.
As a parting shot, fired reporter Ann Mitchell prints a fake letter from unemployed "John Doe," who threatens suicide in protest of social ills. The paper is forced to rehire Ann and hires John Willoughby to impersonate "Doe." Ann and her bosses cynically milk the story for all it's worth, until the made-up "John Doe" philosophy starts a whole political movement.