In 1922, Gypo Nolan is thrown out of the IRA for not having executed a contract killing. Frustrated, he meets his girlfriend, a prostitute, who he is unable to help financially. He also meets ex-IRA-comrade Frankie, who has a £20 on his head, and decides to inform the british forces on him in order to obtain money. He drinks down that money, but is being captured by his old organisation, that soon suspects him on being the one to inform on Frankie. Before they can interrogate him, Gypo is able to escape, but they soon catch up on him and Gypo is shot. Wounded, he is able to retract to a church, where Frankies mother is praying and where Gypo, after her forgiveness, dies.