A vacationing Woman from the City (Margaret Livingston) lingers in a lakeside town for weeks. After dark, she goes to a farmhouse where the Man (George O'Brien) and the Wife (Janet Gaynor) live with their child. She whistles from the fence outside. The Man is torn, but finally departs, leaving his wife with the memories of better times when they were deeply in love.

The man and woman meet in the moonlight and kiss passionately. She wants him to sell his farm—which has not done well recently—to join her in the city. When she suggests that he solve the problem of his wife by drowning her, he throttles her violently, but even that dissolves in a passionate embrace. The Woman gathers bundles of reeds so that when the boat is overturned, the Man can stay afloat.

The Wife suspects nothing when her husband suggests going on an outing, but when they set off across the lake, she soon grows suspicious. He prepares to throw her overboard, but when she pleads for his mercy, he realizes he cannot do it. He rows frantically for shore, and when the boat reaches land, the Wife flees.

She boards a trolley, and he follows, begging her not to be afraid of him. The trolley brings them to the city. Her fear and disappointment are overwhelming. He plies her with flowers and bread and finally she stops crying and accepts his gifts. Emerging back on the street, they are touched to see a bride enter a church for her processional, and follow her inside to watch the wedding. The Man breaks down and asks her to forgive him. After a tearful reconciliation, they continue their adventure in the city, having their photograph taken together and visiting a funfair. As darkness falls, they board the trolley for home.

Soon they are drifting back across the lake under the moonlight. A sudden storm causes their boat to begin sinking. The Man remembers the two bundles of reeds he placed in the boat earlier and ties the bundles around the Wife. The boat capsizes, and the Man awakes on a rocky shore. He gathers the townspeople to search the lake, but all they find is a broken bundle of reeds floating in the water.

Convinced the Wife has drowned, the grief-stricken Man stumbles home. The Woman From the City goes to his house, assuming their plan has succeeded. The Man begins to choke her. Then the Maid calls to him that his wife is alive, so he releases the Woman and runs to the Wife, who survived by clinging to one last bundle of reeds.

The Man kneels by the Wife's bed as she slowly opens her eyes. The Man and the Wife kiss, while the Woman From the City's carriage rolls down the hill toward the lake, and the film dissolves to the sunrise.