Union Army captain Mike McComb (Errol Flynn) is tasked with guarding the army payroll at the onset of the battle of Gettysburg when his small squad is set upon by skirmishers. Fleeing the reb patrol, McComb burns the money to keep it from Confederate hands and is court-martialed in disgrace for his command decision. McComb dispenses with duty and honor and vows to serve a new master: his desires. "The Man Who Burnt a Million" uses the army one last time to set up a stake and quickly conquers the silver market in Colorado. In his rise to power, McComb encounters the lovely -- and married -- Georgia Moore (Ann Sheridan), and the depths to which McComb will sink to capture her heart will sicken even him. But a former rummy with a penchant for poetry (Thomas Mitchell) may hold the key to McComb's redemption.