Edward Henry 'Denry' Machin Alec Guinness is an ambitious young man rising from a poor background to carve out a bold path in a bustling town. He fudges his grades to sneak into a "school for the sons of gentlemen," and at sixteen becomes a junior clerk to Mr. Duncalf. There he meets the charming and socially well-connected Countess of Chell Valerie Hobson, a client of Duncalf's, and is given the task of sending out invitations to a grand municipal ball. He “invites” himself and even wins a £5 bet that he will ask the countess to dance, earning him a reputation as a card—a reputation he eagerly tries to cement, though the next day Duncalf sacks him.
Undeterred, Denry offers his services as a rent collector to Mrs. Codleyn Joan Hickson, a dissatisfied client of Duncalf’s. His efficiency quickly brings him into the orbit of Mr. Calvert George Devine, and he soon realizes there is more money to be made by lending cash at a high interest rate to tenants in arrears. He also discovers Ruth Earp Glynis Johns, a dancing teacher who is drawn to him and herself in arrears to Mr. Calvert, and the pair become engaged despite the cautionary signs around Ruth.
For a holiday in Llandudno, Denry takes Ruth along with her friend Nellie Cotterill Petula Clark as chaperone. There, a dramatic shipwreck and the sailors’ rescue offers him a new chance to profit, while he also witnesses Ruth’s spendthrift tendencies, driving a wedge between them as they part on bitter terms.
Back in town, Denry launches the Five Towns Universal Thrift Club, a daring scheme that allows members to buy goods on credit. The venture boosts his wealth and reputation, and he secures even more support through the Countess’s patronage, widening his social circle and ambitions. He enters public life as a town councillor and buys the rights to Callear, the “greatest centre forward in England,” for the faltering local football club, further cementing his rising influence.
Ruth returns, now the widow of a rich, older, titled man. Denry wavers about renewing their relationship, unsure of his own heart, while Ruth’s own ambitions pull her toward another, older aristocrat. Nellie’s world also shifts when her father, a builder, goes bankrupt, prompting the family to plan migration to Canada. On the eve of departure, Denry realizes his true feelings for Nellie and understands that he loves her above all else. Ruth, present at the moment, reacts with fury but quickly begins a fresh relationship with another older, titled gentleman.
In the end, Nellie and Denry marry, and Denry achieves a historic distinction by becoming the youngest mayor in Bursley, a symbolic culmination of his long, audacious climb from modest beginnings to public prominence.
