It is the anniversary of Abraham Lincoln's birthday and the Lone Ranger and Tonto plan on paying a visit to Phil Beach. He is a man that went to prison as a consequence of the actions of the Lone Ranger and Tonto, but he is now reformed and is married. His wife is in poor health, and he needs money so that she can go away to a better climate. His wife's father is a miser and refuses to provide any assistance, even though Phil asks him at the level of nearly begging.
When two old outlaw cohorts of Phil come into town, they try to convince him to assist them in robbing the town bank. Phil tells them to get lost, but they are difficult to get rid of. Phil is scheduled to dress up as Abraham Lincoln and give the Gettysburg Address in front of the townspeople.
Phil becomes desperate to help his wife and so he commits a robbery. At first, it appears that he gets away with it, but the Lone Ranger and Tonto easily see through it. In the end, Phil admits his guilt, and all is forgiven in a morality play about crime never paying off and forgiveness being a virtue.
This is typical of the episodes of the Lone Ranger TV series. There is always a happy ending based on "the better angels of our nature."