Such a soul torments young composer Georg von Wergenthin, around whom the author creates a precise picture of the fin de siècle, its neuroses and its politics. Georg starts a relationship with a young singer, but does not confess to her in front of his friends, even when she becomes pregnant by him.
Georg Bertrand, a gambling addict and the son of a wealthy landowner, is kicked out of his family home. The director of a travelling circus takes him in. In time, Georg marries the director's daughter and himself becomes the director. Georg's brother visits the circus and recognizes him. Georg must now decide whether to stay with the circus or return to the family that kicked him out.