Jimmy Smith, a millionaire Bible publisher, is married to the overly frugal Sue. Jimmy thus has plenty of disposable income, and, because he likes to use his money to make people happy, he has secretly become the (platonic) benefactor of three beautiful women: Betty from Boston, Winnie from Washington, D.C., and Flora from San Francisco. Sue's best friend, Lucille, is married to Jimmy's lawyer and friend, Billy Early. Lucille is a spendthrift and delights in spending all the money Billy makes. Jimmy and Sue have a young ward, Nanette, who they hope will become a respectable young lady. At Jimmy and Sue's home in New York, many young men come to call on Nanette. Lucille advises the young people that having one steady boyfriend is better than many flirtations ("Too Many Rings Around Rosie"). Tom Trainor, Billy's nephew and assistant, works up the courage to tell Nanette that he loves her, and she returns his sentiments ("I've Confessed to the Breeze"). Tom wants to settle down and get married as soon as possible, but Nanette has an untapped wild side and wants to have some fun first.