The story, based on Hans Christian Andersen´s tale The Tinder Box, starts at a stormy night on Gallows Hill. Wayfarer Voita chances upon an underground golden treasure, guarded by the mysterious ghost Arnoldo. Voita acquires a golden tinder box by means of which the ghost can be conjured up and tasked to fulfil three wishes. But Voita cares little for gold; he is much more attracted by the beautiful princess whom he knows only from hearsay. Arnoldo likes him, and decides to help him. The happy story however becomes complicated when a greedy lady-in-waiting discovers the secret of the tinder box and is determined to do anything to get hold of it. She succeeds, Arnoldo is forced to serve her, and Voita finds himself in a great danger from which only the princess can perhaps rescue him.