One July morning a twelve-year-old boy and his father, Pap, leave home with Mammy’s personal savings for a cream separator. Mammy is the boy’s mother. She saved money by working. 

Pap trades some old wire and tools for Mr. Beasley’s horse. Mammy calls him a fool about a horse--even though the horse is a good horse. Pap can be a bit misleading in his trade offers sometimes. Unknown to Pap, the horse Mr. Beasley traded was previously owned by Pat Stamper, a notorious trader. 

Pap sometimes called himself the Pat Stamper of their area, though, he was quite intimidated by Pat Stamper himself and did not want to get involved in any of Pat’s business. 

That morning, Pap and his son head off for Jefferson to buy Mammy a new separator at Varner’s store. They take the new horse and a mule along with Mammy’s money. 

Pap would take things that people would not miss and trade them for horses, which he always found to be the prettiest horses. He, however, has no intentions of using Mammy’s money for anything other than the separator which she wants. 

However, when they planned the trip to Jefferson. Pap began to worry about the horse’s ability to make it to Jefferson and back. It did not seem the healthiest of horses. However, they decided to head out anyways. About a mile out from the store, the horse begins to seem ill. 

Before leaving for the trip but after Pap gets Beasley’s horse, Pap is talking to folks Jody Varner and Herman short. The horse had originally been Pat’s and then was traded for a harness to Herman and then was traded to Mr. Beasley for eight dollars. The involvement of money made Pap upset and resentful of Pat for bringing this trade-type business around in the first place. The folks make comments about how little Pap likely traded for the horse. 

On their way into town, they hear the news that Pat and his servant are in town. Pap and his son make for Pat’s camp. Pap is angry about the monetary value that the horse has come to represent. Thus, Pap wants to try and fool Pat by trading for his old horse back. Pat will only trade if Pap gives both his good mule and the horse for two of Pat’s okay-looking mules. Pap eventually agrees and they trade. The mules are kind of hard to drive and a bit troublesome. Pap eventually makes it to the store with his son to buy Mammy’s separator. They load it unto their cart. 

Pap decides to go back and trade for his original horse and mule. Pat won’t trade. Pat says he put Pap’s mule onto a new team with a new horse and that he couldn’t have his old horse back. Pap asks to see it and offers to trade for the team. The horse is fat and dark-colored. Pap does not think the horse could even get him home, but he wants his reliable mule back. The horse kicks Pap off when he tries to ride it. Pap still asks how much he is willing to trade for the team. Pat invites him in for a drink while the kid waits outside with the separator. Pat’s servant comes out with a horse and buggy. Pap and Pat come out. Pap says nothing as he takes the separator and puts it in the buggy. Pap and Pat drive off toward town. The servant asks if he can get the kid anything until the pair return from town. 

When the two get back, Pat gives Pap the new fat horse and the old mule. Pap and the boy head back home. It begins to rain and the color of the horse changes. They realize it is Mr. Beasley’s horse and that they had been tricked. When they get home the mom is so angry she refuses to speak to them. Instead, she saddles up the mule, heads into town, and returns in someone else’s buggy with her new separator.