After a prolog in which the content of the story is related, the messenger Auberon appears and announces to the king that the Christians have invaded his land. The king is enraged at his idol Tervagant that this has been possible in spite of the fact that the image has recently been richly gilded. Auberon is sent forth to summon the emirs with their armies. There follows a scene between the Christians and Saracens, which is imbued with all the ardor and spirit of the crusading times. The Christians show divinely inspired bravery and are visited by an angel which encourages them in the fight. They are defeated in battle, but the angel announces that they have won a place in Paradise. The Saracens find on the battlefield only one Christian alive, and he is kneeling before an image of St. Nicholas. The man with his image is brought before the Saracen king, who in ridicule asks what the ugly old chap is good for. The Christian announces that the image is excellent as a protector of treasure. The king determines to test the image and causes his herald Connart to proclaim that the treasure will be left open, guarded only by the image of St. Nicholas. The Christian prisoner is given over to the hangman Durand to die if his patron saint does not live up to his reputation. The scene shifts to a tavern. The innkeeper has his man servant announce that he has a fine wine for the epicure, a wine which he describes in most eloquent fashion. The rogues assemble, and in a drawn-out scene manifest their appreciation of the good wine, but at the end are unable to pay their score. They determine to steal the unguarded royal treasure, and the innkeeper agrees to receive the stolen goods. They enter the treasure chamber, and with great labor, which affords much comedy, get away with the heavy chest. The theft is discovered, and the Christian prisoner is ordered to be hanged, but gets a suspended sentence of one day, and cheered by an angel, awaits the intervention of the saint. The thieves, in the meantime, have brought the treasure to the tavern and continue their revelry until they fall asleep. Hardly has sleep overtaken them, when the saint appears and in gruff language demands the return of the treasure, with the gallows as the alternative. The thieves, panic-stricken, carry the treasure back. One of them proposes that each take a handful of gold pieces, but they are too much terrified, and in the end the ringleader must leave his mantle with the innkeeper in settlement.