A ham-handed cautionary fable against communism, the film concerns a group of Civil War veterans who are appalled by the burgeoning radical movement in America.

Inspector Steve Trent tracks the stolen Cortez emerald, last pilfered by a murdered gangster.

"Chick" Thompson is a puppet-master in a traveling carnival whose wife dies in childbirth and leaves him with an infant son he names "Poochy." His father-in-law and the baby's grandfather sues him for custody of the baby and Chick takes his son and hides out for a couple of years. He joins his former assistants, Daisy and "Fingers", in a circus act only to find that the persistent grandfather is still on his trail.

"Stake-Out" Kelly, ace detective, meets Mary Higgins at a small Hollywood sandwich shop where he expects to get some information concerning Packey Davis, head of a ring of jewel thieves. His suspicions are confirmed when Mary warns him that Davis is outside - waiting for him. Kelly sets a trap and, in the ensuing battle, one of the gangsters is killed. Davis is interested in rubbing out Kelly as Kelly and Baker are the only two witnesses against Smitty, a Davis henchman. Baker is in the hospital and the plan is bring Smitty there for identification. Kelly accidentally slips the secret to Mary, who in turn innocently informs Packey. A trap is laid.