Anthony and Gloria move lower down the social scale. Acquaintances from Kansas City ignore them when they pass them on the street. Their apartment is smaller and cheaper. Anthony meets Muriel, and they discuss what exactly makes a person upper class. Anthony says it is money, but Muriel believes that one will always belong to the higher social order if one comes from a good family. She accuses him of thinking that his old friends are trying to avoid them. Maury Noble no longer comes to see them. He is making a great deal of money and is getting married. Anthony becomes upset and leaves. Gloria is not bothered and tells Muriel that he will come back eventually.

Anthony has resigned from his last club. He spends most of the time at speakeasies. His only friends are the people he has met there. He meets Dick Caramel on the street. Dick has just returned from California, where he has heard stories of the downward spiral of Anthony and Gloria. Dick asks about the state of Adam Patch’s will. Anthony says he is still hopeful. Dick asks him if he has written anything lately, but he has not. Dick expresses contempt for modern literature, especially what he calls “shoddy realism.” He is tired of everyone asking if he has read This Side of Paradise. (This is an inside joke because it is Fitzgerald’s first novel.) Dick has achieved success as a novelist.

As the months pass, Anthony becomes an alcoholic; he is unable to function in the morning until he has a drink. Gloria is astonished to finds herself as a housewife. She no longer speaks of children. Anthony returns home to tell her that the bank has closed their account due to overdrafts. They become frantic for money; they have no one from whom they can borrow and very little food in the house. Anthony goes down to the speakeasy. He has four dollars on him, enough to buy a round of drinks. He leaves and wanders the street. He runs in to Maury Noble, who goes away as soon as possible. He tries to call up Bloeckman (Black) but is told he is at a party. On learning the location, Anthony goes there and asks to see Mr. Black. Bloeckman is repelled by Anthony’s drunken condition. Anthony takes a swing at him, who hits him back in a much more effective way. He has Anthony thrown out into the street. A Good Samaritan helps him into a cab after Anthony promises he will take care of the cab. When they arrive at Anthony’s home, Anthony admits he has no money. The Good Samaritan smashes him in the mouth and leaves him lying on the sidewalk.

In March, the appeal finally comes to court. Dick Caramel offers to drive Gloria to the courthouse. Anthony thinks of Italy, which will be their destination if they win the case. The doorbell rings. When he answers it, he discovers Dot on his doorstep. She is living in New York and wants to restart their relationship. Anthony tells her that she will have to leave. When she will not go, he chases her around the room and finally grabs a chair and smashes it over her head. Gloria and Dick return with the news that they have won the case. Anthony ignores the verdict; he tells them not to bother him because he is sorting his stamp collection.

Several months later on a ship, Anthony appears on deck for the first time. Passengers point him out, stating that he has been crazy since he won the case and received thirty million dollars. Shuttleworth locked himself in a room and killed himself once he learned that he lost the money. Anthony stands at the rails and thinks of where he had been just a few months previously. He feels proud that he “showed them,” that he fought the fight, did not give up, and eventually came through.