An ex-station-hand travelling to Sydney encounters a circus in a country town. Drinking with the 'Italian' circus proprietor and the clown he learns of the latter's unhappy marriage in England. Inheriting property from an uncle he foolishly marries a common spendthrift musician, finally eloping with her handsome music teacher when she has spent all her husband's money. They meet again, both with different circuses on the Continent, where he shoots her purported husband in revenge. Finally, weary of women, his circus comes to Australia and he plays the tragic clown. (PB)