Charlie Chan (Sidney Toler) is on a liner crossing the Pacific when he is approached by US Treasury Agent Scott Pearson (Tristram Coffin) who tells him he is investigating counterfeit money flooding the islands and is in fear of his life. While the ship's passengers watch a knife throwing act someone else joins in the action and throws a knife into Pearson's back. Chan begins the investigation...
There are plenty of potential suspects and a motley crew of different characters including a loud mouth (Dick Elliot), a woman with forged papers (Gloria Warren) and a professional knife thrower. There are also plenty of alibis and vouching which Chan needs to unpick with the help (in theory anyway) of his wayward son (Victor Sen Young) and his chauffeur (Willie Best).
It's standard Charlie Chan fare, a complicated investigation with a few red herrings, a bit of tomfoolery with Chan's son and any number of proverbs.