American gambler Philip Eden, who has ambushed his young daughter Alice from his estranged wife Florence, loses all of his money playing roulette in a French casino. In spite of Philip's sporadic income, he and Alice pledge to maintain an attitude of "wise foolishness" and to face the future together, one day at a time. Alice and Philip's happy plans are disrupted, however, when Bernice Solon, a jilted lover of Philip's, tracks them to their apartment and reveals that, out of jealousy, she has informed Florence of their whereabouts.