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Graustark needs thirty million dollars to satisfy a Russian loan. The Prince of Dawsbergen, ruler of the adjoining principality, will advance the money if the young Prince of Graustark marries his daughter. Prince Robin, however, inherits an independent spirit, his father having been an American. He refuses absolutely to marry a Princess whom he has never seen. His councilors plead in vain. With the ruin of his country imminent, the boy ruler hastily sails for America to negotiate the loan, hoping at the same time to meet the girl of his dreams. The money is readily advanced by William W. Blithers, a self-made millionaire anxious to have his daughter marry into royalty. The daughter, however, avoids the Prince and he does not see her. He rescues a girl from drowning and falls in love with her. He believes her to be Blithers' daughter, but she does not reveal her identity.