The Marionettes tells the story of two disreputable men. One, Dr. James, is a suave doctor and also an assassin and safe-breaker. The other, Mr. Chandler, is a consumate wastrel, gambler, and wife beater. Each of the two adheres to a strict code of conduct and despises the other for their lack of morals.

A chance encounter between the two of them not only throws their differences into sharp relief, but also leads to a monumental crime and bizarre atonement.