When Harvey Cheyne, the precocious and arrogant son of an American railway tycoon, is rescued from drowning by a New England fishing boat, he is unable to convince the crew to take him to shore and is forced to take a job on board the schooner. With no other choice, he must quickly adapt to life at sea, learning to sail and to fish. Thrown into this unfamiliar environment, he comes to understand the importance of hard work and dignity, and begins to reassess his former values, resulting in a remarkable transformation of character and spirit.