Plot
In 1928, aging and lonely New York millionaire Samuel Fulton (Charles Coburn) decides to leave his fortune to the family of the late Millicent Blaisdell, the only woman he has ever been in love with, but did not love him back. Samuel explains to his lawyer Edward Norton (Frank Ferguson) that losing Millicent inspired him to become a wealthy businessman. Fearing the family will spend the money unwisely, he decides to visit them in their small Vermont town, renting a room in their house under the alias John Smith.
Roberta, the youngest daughter, (Gigi Perreau) wastes no time in making him feel welcome. He notices that the Blaisdells are a happy family who, although poor, are proud of their background. Father Charles (Larry Gates) has taught the family not to value materialistic products. Nevertheless, mother Harriet (Lynn Bari) wishes for her daughter Millicent "Millie" (Piper Laurie) to marry Carl Pennock (Skip Homeier), a wealthy, snobbish young man who can buy Millie everything that Harriet never had. Millie, however, is not keen on Carl and prefers to marry local soda jerk Dan Stebbins (Rock Hudson).
One night, Millie and Dan announce their engagement, which upsets Harriet. Shortly after, Norton arrives, announcing that the family has inherited $100,000 from an unknown man. The family immediately gives up their humble life for the upper-class lifestyle. The oldest son Howard (William Reynolds) immediately starts gambling and lands in debt, which prompts Samuel to help him. Meanwhile, Dan, feeling he can never live up to Millie's expectations, breaks off their engagement. Afterwards, Millie reluctantly starts dating Carl again, under the pressure of her mother.
Samuel helps Millie and Howard escape from a raid, which results in him being jailed. Harriet feels that Samuel's presence is ruining the family image, unaware of the reason he ended up in jail. He is supported by Dan, who wants to leave town to build a career. Trying to prevent Millie and Dan from disappearing out of each other's life, Samuel sets up a meeting at the cinema. There, an argument follows, and Millie exclaims her hatred for the family's sudden wealth. She is comforted by Samuel and attracts the attention of other theatre-goers, who suspect that Samuel and Millie are dating.
During the ongoing social party at the Blaisdell house, Harriet overhears gossip about Millie from the cinema, and forces Millie to announce her engagement to Carl. Meanwhile, Charles announces he has lost his investments, which makes Samuel realize that the Blaisdells are in no position to make wise financial decisions. Obligated by Samuel, Norton refuses to give them a loan, after which Charles begs the Pennocks for money, but the Pennocks refuse the loan and leave, calling off Carl and Millie's engagement. Much to Harriet's distress, the Blaisdell family returns to their old lifestyle, and Millie and Dan get engaged again. At the end, Roberta reveals that 'John' has won the first prize at an art show, since she secretly entered his paintings. Samuel leaves the house to avoid the press and realizes that the Blaisdells now think of him as the grandfather he could have been.
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