Gwynplaine, son of Lord Clancharlie, has a permanent smile carved on his face by the King, in revenge for Gwynplaine's father's treachery. Gwynplaine is adopted by a travelling showman and becomes a popular idol. He falls in love with the blind Dea. The king dies, and his evil jester tries to destroy or corrupt Gwynplaine.
Vladimir Dubrouvsky, a lieutenant in the Russian army, catches the eye of Czarina Catherine II. He spurns her advances and flees, and she puts out a warrant for his arrest, dead or alive. Vladimir learns that his father's lands have been taken by the evil Kyrilla Troekouroff, and his father dies. He dons a black mask, and becomes the outlaw The Black Eagle. He enters the Troekouroff household disguised as a French instructor for Kyrilla's daughter Mascha. He is after vengeance, but instead falls in love with Mascha.
Set in the years before and during World War I, this epic tale tells the story of a rich Argentine family, one of its two descending branches being half of French heritage, the other being half German. Following the death of the family patriarch, the man's two daughters and their families resettle to France and Germany, respectively. In time the Great War breaks out, putting members of the family on opposing sides.
Charlie, a wandering tramp, becomes a circus handyman - soon the star of the show - and falls in love with the circus owner's stepdaughter.