Two friends, Giuseppe Filippucci and Pasquale Maggi, scrape by shining shoes on the crowded streets of Rome, living frugally while saving every lira in the hope of finally buying a horse.
One day, Giuseppe’s older brother, Attilio, visits and reveals that Panza, a notorious fence, has some work for them. Panza sends the boys to fetch two blankets to sell. They turn the blankets into quick cash by selling them to a fortune teller, but this small windfall triggers a dangerous chain of events. Panza, Attilio, and another man burst into the fortune teller’s home, posing as policemen to seize the moment. They claim the fortune teller handles stolen goods and force the boys from the scene, allowing them to keep the blanket money (2,800 lira) plus an additional 3,000 lira. With this money, the boys finally have enough to realize their dream of owning a horse.
Back in the city, the situation spirals. The real police, along with the fortune teller, bring the boys to the precinct for questioning. The authorities accuse them of stealing 700,000 lira from the fortune teller’s house—clearly the work of Panza and Attilio in disguise. The boys steadfastly deny the charges and withhold knowledge of the three con men, ending up separated and sent to a juvenile detention center.
In the daunting confines of the jail, Giuseppe receives parcels from the outside world and shares his food with fellow inmates in his cell. Arcangeli, another inmate, discovers a note hidden in a bread crumb from the parcel. The note comes from Attilio’s boss, directing the conspirators to keep silent about the brothers’ involvement. Giuseppe informs Pasquale, and the two decide not to expose the truth.
The tension peaks during a police inquiry. In the chief’s office, the interrogators threaten force. A guard stages a mock beating with a sandbag while another inmate pretends to hear Giuseppe scream in pain, a ruse designed to extract confessions. Believing his friend is being harmed, Pasquale breaks and divulges Panza’s name and Attilio’s role to the chief, shocking Giuseppe when he learns of the betrayal.
A file is planted in Pasquale’s cell, and he is flogged as punishment. At their formal court hearing, Giuseppe is sentenced to one year in prison and Pasquale to two years. The wheels of fate then begin to turn toward an audacious escape. Giuseppe agrees to follow Arcangeli’s plan to slip out.
During a movie screening inside the prison, the escape unfolds. Pasquale informs the police chief where Giuseppe and Arcangeli have gone and directs them to the horse’s location. They pursue, but the pair manage to elude capture on the horse. A chase ends on a bridge, where Arcangeli bolts away while Giuseppe and Pasquale make their exit in different directions. Arcangeli flees, while Giuseppe remains on the scene as Pasquale, in a moment of desperation, strikes with his belt, sending Giuseppe tumbling from the bridge and striking the rocks below. As Pasquale weeps over his friend’s apparently dead body, the police close in and the horse disappears into the distance.
