阿尔伯特·斯特普托和他的儿子哈罗德都是衣衫褴褛的人，他们带着马和马车在附近巡游。他们也在垃圾场友好地生活在一起。哈罗德一直在寻找改善自己命运的方法，他将父亲的毕生积蓄投资于一只几乎失明、看不见野兔的灰狗。当狗输了比赛，哈罗德不得不还债时，他想出了另一个好主意。领取他父亲的人寿保险。要做到这一点，他的父亲必须假装死了。

Albert Steptoe and his son Harold are rag-and-bone men, complete with horse and cart to tour the neighbourhood. They also live amicably together at the junk yard. Always on the lookout for ways to improve his lot, Harold invests his father's life savings in a greyhound who is almost blind and can't see the hare. When the dog loses a race and Harold has to pay off the debt, he comes up with another bright idea. Collect his father's life insurance. To do this his father must pretend to be dead.

După ce o speculație riscantă îi aduce datorii, un vânzător de vechituri încearcă să înșele o companie de asigurări înscenând moartea tatălui său.