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After her father, a widowed sea captain, perishes, Violet Daniels is left a map detailing the location of buried treasure on an unknown South Seas island. She leaves to find the treasure with Jack Roper, who is in love with her, on his fishing schooner, the "Anna Bell." During the voyage, the ship's mate, "Knife" Hurley attempts to gain possession of the map, and there is a fight involving the crew he has recruited among the nefarious elements of the waterfront. The ship is set on fire, and Knife escapes overboard with the map and his crew, leaving Violet and Jack to die on the burning boat. They survive on a raft they build, however, and after days of drifting, hungry and thirsty, they arrive at an uninhabited island. They name it "Regeneration" and begin life anew. Sometime later, Knife and his crew land on Regeneration, which turns out to be the island on which the treasure is buried. Knife is eventually defeated.