Head waiter Leopold has been secretly in love with the hostess Josepha for a long time, but she only has eyes for Dr. Siedler, a guest in the White Horse Inn. Leopold tries to get Dr. Siedler interested in the daughter of Industrialist Giesecke, who would rather see his daughter married to Sigismund.

The deaf-mute little girl Angelika is a talented dancer and is trained by a ballet mistress so that she gets the leading role in an opera despite the intrigues of a rival. Angelika's brother gets out of prison and wants to build an honest life for himself, but falls back into the clutches of his former gang, who use him and the unsuspecting Angelika to circulate counterfeit money.