Josh and Dinah Barkley are a successful musical-comedy team, known for their stormy but passionate relationship. Dinah feels overshadowed by Josh and limited by the lighthearted musical roles he directs her in. So she decides to stretch her skills by taking a role in a serious drama, directed by another man.

The buoyant Molly Brown has survived the first crisis of her life—a flood. Sixteen years later she sets out to make her way in the world. She assures the Leadville saloon keeper that she can sing and play the piano, and learns quickly. Soon she marries Johnny Brown, who in a few years will be able to replace the original cigar wrapper wedding ring with a replica in gold and gemstones. The Browns head for Europe and bring a few crowned heads back to Denver for a party that turns into a ballroom brawl. Molly goes to Europe alone, returning on the Titanic. She didn't survive a flood as a baby for the story to end here.

To Jane Falbury's New England farm comes a troup of actors to put up a show, invited by Jane's sister. At first reluctant she has them do farm chores in exchange for food. Her reluctance becomes attraction when she falls in love with the director, Joe, who happens to be her sister's fiance.