A young married couple whose plans for their life together haven't turned out as expected decide to rob the bank where the husband works of $100,000, then hide the money in a safe place and return for it after they serve out their sentences. All goes according to plan until they get out of prison, when they find that they're being trailed by an insurance investigator and the husband's old cellmate, who has decided that he wants a cut of the money.

Jeff grows up near Basin Street in New Orleans, playing his clarinet with the dock workers. He puts together a band, the Basin Street Hot-Shots, which includes a cornet player, Memphis. They struggle to get their jazz music accepted by the cafe society of the city. Betty Lou joins their band as a singer and gets Louie to show her how to do scat singing. Memphis and Jeff both fall in love with Betty Lou.