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Henpecked Horatio Slipaway is hit by a streetcar and, regaining consciousness in a hospital, feigns amnesia. Playing the market with a $500 insurance settlement, Horatio makes a fortune and conveniently assumes the identity of a Peruvian millionaire. His wife, Martha, eventually learns of this "rich South American" who so closely resembles her husband and, dressing herself in finery, goes to see if it is her Horatio. Horatio finally "regains" his memory, and he and Martha are reunited.