Dick Whittington leaves his home in Gloucester to make his fortune in London, because his father has told him the streets there are paved with gold. He meets a stray cat along the way and adopts him, with the good fairy of the Bow Bells promising to look after them on their journey.

Dick meets the people of Cheapside, including Alderman Fitzwarren He falls in love with the Alderman’s daughter Alice but is too poor to marry her.  The Alderman thinks Dick has stolen his money and Dick has to leave London. He hears the Bells of Bow and they tell him his future, so he turns back to clear his name.

Dick sets off on a voyage with the Alderman and his friends on a great ship. King Rat sends a storm to wreck the ship and they arrive at Morocco where they meet the Sultan Sheik Onnit. He gives Dick lots of money when King Rat is defeated, and Dick becomes Lord Mayor of London and can marry Alice.