Harbour policeman Hans and his companion rescue a young woman from water during their night watch, to find out she is connected with a jewel robbery in which a gangster now owner of an hippodrome, an out jailed one and his mistress now mixed up with an American millionaire weave some obscure plans.
The adventures of smart soldier Gustav Diestelbeck include managing his superior officer, competing for the canteneer's daughter, evading punishment for discipline faults and hosting Prinz Willibald during his visit to the regiment.
Based on the 1856 Gustav Räder play Robert and Bertram about the adventures of two wandering vagrants, which has been turned into films on several occasions.