The narrative follows Ike Harper and his overly confident partner, Magpie Simpkins, as they prospect for gold on Whispering Creek and discover a rich paystreak. Believing they are operating outside the law regarding timber use, they are soon approached by a series of shady characters warning them about government officials. Two smooth-talking men arrive in store clothes, pretending to be forest supervisors, and quickly charm Magpie into lavishly bribing them with heavy nuggets and valuable pack animals. Ike grows increasingly furious as Magpie continues to hand over their hard-earned fortune, convinced that generous bribery is the highest form of political finance and diplomacy.
Despite Ike's mounting frustration and violent outbursts, Magpie remains blissfully certain of his own superior wisdom and negotiation skills. The tension peaks when the partners discover their paystreak was nothing more than a shallow pocket, leaving them practically broke. The climax arrives when the true sheriff and a real forest ranger appear, revealing that the charming guests were actually card sharps and con men fleeing the law. Ultimately, Magpie realizes he has been thoroughly duped by the very swindlers he tried to buy off, bringing a humorous end to their golden dreams.
