Prague, Bohemia, 1820. Balduin, a penniless student, falls in love with Countess Margit, a wealthy noblewoman whom he has saved from drowning.

For Balduin, going out to beer parties with his fellow students and fighting out disputes at the tip of the sword have lost their charms. He wants to find love; but how would he, a penniless student, ever dare looking up to any woman worth of loving? Absorbed in his dreary thoughts and indifferent to the advances of Lyduschka, Balduin is unexpectedly offered a fortune by the mysterious money-lender Scapinelli - but on a strange condition...