Miser Ebenezer Scrooge is awakened on Christmas Eve by spirits who reveal to him his own miserable existence, what opportunities he wasted in his youth, his current cruelties, and the dire fate that awaits him if he does not change his ways. Scrooge is faced with his own story of growing bitterness and meanness, and must decide what his own future will hold: death or redemption.

Miriam Gibson is seduced by a handsome adventurer who then abandons her and their child to marry for money. Penniless she becomes a prostitute to care for her child but when the baby dies a hopeless Miriam goes to London becoming the housekeeper and eventual mistress of barrister Geoffrey Sherwood. Jilted by his fiancée Valentine, who likewise married for money, Sherwood has become an alcoholic. As Miriam and Geoffrey grow closer, she hopes for marriage, but when an unhappy Valentine begins to trifle with Geoffrey, he responds and discards Miriam until he realizes Valentine’s shallowness versus Miriam's kindness and consideration for others. They marry in a little Scottish kirk, and sail for Buenos Aires to begin a new life.