During the Great Depression, when natural catastrophes including floods destroy the homes of thousands,.crooked, con man Phineas Flagg buys up all the ranches in Arizona's Gunsmoke Valley at the bargain price of $2 per acre. The displaced families are only too happy to buy what Flagg misrepresents as 40 acres of prime farmland per family at the bargain price of $50 an acre. What he doesn't tell the migrants is that the entire area has been condemned under the law of eminent domain and will soon be flooded for the construction of a new dam. The group's leader, Judge Warren, initially disregards the Mesquiteers' warnings that they're being conned,, but Stony' romances his beautiful granddaughter Marion,, and the settlers accept the Mesquiteers' help,, but is it too late?