A painter turned tramp (Chaplin), devastated by losing the woman he was courting as a wealthy man, finds himself drunk and getting drunker by the minute with some sailors at a bar until he's literally falling down. He keeps futilely trying to draw the woman's picture on the floor with a piece of chalk until he finally passes out cold (or perhaps dies, as in the poem) at the end of the film.

As a derelict paints the face of a girl on a barroom floor, the plot is developed in a series of flashbacks: Robert Stevens, an artist engaged to marry Marion, a society girl, becomes charmed with a fisherman's daughter who poses for him. The society girl's brother brings dishonor upon the fisherman's daughter, and when she commits suicide the artist shields the brother. Stevens is blamed by his fiancée, who terminates their engagement. The artist becomes a derelict and is wrongfully imprisoned. Eventually Stevens is exonerated and reunited with Marion.

Bill Bronson is a likable young bank clerk, whose congenital thirst for liquor is kept under control until he joins his wife Mary at getting blotto at a company party. From there it is a downward spiral.