Ralph Courtland and Pierre Felix are sitting in their Fifth Avenue Club discussing the eternal question, woman. Ralph contends that it is birth and breeding that make the gentlewoman, but Felix, who is a designer of fashionable apparel, claims in three months he can make a lady of any one he may happen to pick up on the street, simply by dressing her properly. An old organ-grinder and a young woman, leading a monkey by a string, stop in front of the club to gather some pennies, and Ralph and Felix decide to make her the subject of the test. The wager is for $25,000 and expenses and stakes are placed with Allen Tait, a young lawyer. Ralph goes to California, where his aeroplane is to be entered in a race, and Pierre, fitting out Bianca with beautiful clothes and installing her in a handsome apartment, begins his experiment.