A ring passes between a lot of different people, giving the bearer or someone close a new meaning to life. Actors, embezzlers, old ladies and cheated husbands all seem to gain temporary hope from misery and disillusionment.
Bolle gets tired of working at the cigar factory and because of his desire for freedom he takes to the road. He and the other hobos have only one problem and that is the mounted policemen chasing vagrants.