In early 19th century England, ambitious and ruthless orphan Rebecca Sharp advances from the position of governess to the heights of British society.

The young Ruth Travers, left an orphan after the death of her father financially ruined by Mortimer Reynolds, is welcomed at home by Jimmy Carter, a young millionaire who becomes her guardian. Ruth's winsome qualities gradually win Jimmy's heart. Meanwhile at a Charity Ball, Ruth meets Mr. Reynolds, who is contriving to ruin her virtue.

George Crosby, a New York lawyer, with a passion for painting, wearied of his legal duties, sails for Brittany, where he meets Renée Kerouac, a fisher-maiden, and sketches her as a Corregan, a fairy who destroys the men who refuse her love. Hoel Kalloc, her betrothed, becomes jealous, and George marries her, after saving her from Hoel's brutality.