A masked outlaw steals from bank robbers to help the poor.

In 1875, when outlaws hold up the stage bound for Silver City, Texas, and discover that the payroll is missing, they demand the passengers' jewelry and money instead. Bill Bladen, one of the passengers, protests the seizure of his watch, while Paradise Flo, a saucy saloon singer, directs them to her handbag under the seat, where they find the payroll. Later, in town, Leland Kirby, the lawless proprietor of the Crystal Palace saloon, praises Paradise for pointing his men to the payroll. At the stage depot, meanwhile, Bill learns from Buckskin Liz, the hardy old woman who owns the line, that Kirby runs the town and was probably the man behind the theft of his watch. Bill proceeds to the saloon, where one of Kirby's men taunts him with the watch. Claiming that the watch belonged to his father, Bill demands its return, and when the man refuses, Bill shoots out the lights, reclaims his watch and leaves. Back at the stage depot, Bill tells Buckskin that he came to Silver City to exonerate his late father, who was framed by outlaws. In response, Buckskin offers Bill a job driving the stage with her employees, Jim and Curly. Later, as Kirby divides the stolen payroll in his office, a masked fighter for law and order known as The Durango Kid emerges from the shadows and demands the money, which he then tosses into Buckskin's window. The next day, Tom Wagner, a real estate investor, cautions Buckskin about her poor financial situation and offers to buy the stage line, causing Bill to wonder about his sudden concern. When the outlaws attack the stage again, Jim and Bill jump off the coach and run away, abandoning the strongbox to the bandits. After the outlaws ride away, Curly and Jim reboard the stage and deliver the real strongbox, which was hidden under the seat, while Bill decoys the bandits. When the thieves pry open the stolen box, it explodes, and Kirby vows revenge on Bill for deceiving him. Disapproving of Kirby's tactics, the entertainers at the Crystal Palace quit and go to work for Buckskin. To thwart Bill and Buckskin, Kirby orders Wagner to hire Tom Richards and Luke Blane to pose as miners and seek employment at the stage line. When Kirby's men attack a gold shipment, Jim and Bill chase them away, then discover that Tom and Luke have driven away with the gold. That night, Bill and Jim come upon the outlaws' camp, and after overpowering Tom and Luke, they don their jackets and knock out Ringo and Cherokee, two of Kirby's men. Knowing that Ringo and Cherokee will think that they were double- crossed by Luke and Tom, Bill leaves them behind while he and Jim deliver the gold, along with Luke and Tom, to the nearest sheriff. Upon returning to Silver City, Bill informs Wagner that the gold has been stolen, and as Wagner hurries to tell Kirby the good news, Ringo and Cherokee ride into town. As Bill listens at Kirby's window, Ringo and Cherokee report that Tom and Luke stole the gold, causing Kirby to accuse Wagner of betraying him because he hired the two. When Kirby orders Wagner to return the gold in twenty-four hours, the panicky Wagner hurries to his office, where he is confronted by Bill. After Bill tricks Wagner into providing the evidence to clear his father and implicate Kirby in the robberies, Kirby bursts into the office, grabs Bill's gun and shoots Wagner. When Bill is arrested for murder, Paradise, overcome with guilt for her association with Kirby, visits Bill at his cell and passes a gun to him through the bars. After she leaves, Bill hands the gun over to the sheriff, winning the lawman's confidence. In return, the sheriff allows Bill to escape and grants him twenty-four hours to prove Kirby's guilt. Riding as The Durango Kid, Bill terrorizes Kirby's gunmen into fleeing town, warning that justice will be served at eight o'clock that night. As the hour approaches, only Ringo remains in town. When Bill tells Ringo that Kirby is planning to double-cross him, Ringo bursts into Kirby's office and is shot by the jittery Kirby. As the sheriff listens from a back room, Ringo, believing that he has been betrayed, denounces Kirby for Wagner's murder. Still disguised as The Durango Kid, Bill then arrests Kirby, and when Kirby turns on him with a hidden gun, Bill kills him. With justice served, Paradise, penitent, leaves town, and Bill rides off to bring law and order to the territory.