在德皇威廉二世统治时期的科佩尼科小镇，一个名叫福克特的人，为了出国谋生，涂改、偷窃护照入狱。出狱后为了找到工作他不得不挺而走险，冒充上尉并带领士兵包围了市政府，还绑架了市长官员，希望能得到一张护照，结果他的希望落空了，又一次入狱。当他从监狱出来时却成了赫赫有名的“科佩尼克上尉”。

Hendrik and Willi are the owners and crew of a canal barge. They travel up and down the Havel River, have girlfriends here and there, and dream of a “solid” life. One evening they observe a young girl, Anna, who is apparently about to jump off a bridge. They both run to save her, but are “disappointed” to find out that she only threw a ten mark note into the river in hopes of ridding herself of a bad memory. Anna is persuaded to travel back to Berlin as a “passenger” with them, and the two friends soon fall in love with her. After an insulting comment from Willi, Anna leaves the boat, and the two men make an agreement with one another: whoever wins Anna back must forfeit his claim to the barge. Feeling sure of himself, Willi goes on land and looks after her. However, he soon realizes that she is in love with Hendrik, and is honest enough to confess this realization to his friend. But his friendship with Hendrik is more important to him than their agreement, and so the three start a new life on board the barge, all together.