Harvard grad Peter "Junior" Potter returns to the Western town of Sawbuck Pass to claim his father’s inheritance but discovers the money is missing. Despite being a city slicker with no knowledge of frontier life, he tries to recover the fortune by posing as a tough cowboy. Unwittingly, he becomes entangled with a saloon owner named Mike, who is secretly the notorious lady bandit, "The Torch," and Roy Barton, who is undercover as a government agent hunting for the same elusive criminal.

Through a series of humorous misunderstandings and slapstick situations, Junior continuously finds himself in dangerous yet comical predicaments. He interacts with colorful characters, from outlaws to lawmen, often complicating rather than advancing his quest. Romantic sparks fly between him and Mike, though he remains oblivious to her dual identity. As tensions rise and double-crosses abound, the chase for the missing gold crescendos into a chaotic showdown where allegiances are tested and secrets are revealed.