The Big Noise is retired textile manufacturer Julius Trent (Guy Kibbee). Seeking a new outlet for his entrepreneurial energies, Trent buys a half interest in a thriving dry-cleaning establishment. This gets him mixed up with a gang of protection racketeers, who promise dire consequences if Trent doesn't dance to their tune.

King Louis XI masquerades as a commoner in Paris, seeking out the treachery he is sure lurks in his kingdom. At a local tavern, he overhears the brash poet François Villon extolling why he would be a better king. Annoyed yet intrigued, the King bestows on Villon the title of Grand Constable. Soon Villon begins work and falls for a lovely lady-in-waiting, but then must flee execution when the King turns on him.