Lieutenant Frank Pearson, a veteran of the Second World War, wakes up next to his wife, Helen, eager for the parade happening that day. Helen drowsily comments that she forgot all about the event. As they brush their teeth, Frank remarks to the aloof and distracted Helen that the parade will remind people of the sacrifices soldiers made for democracy. He puts on his uniform and notices it is tight-fitting towards the bottom but denies it when Helen asks. During breakfast, Frank tells Helen to wake up their eighteen-year-old daughter, Shirley, for the parade. He feels upset that she goes out late at night, but Helen passively inputs that she's already grown. Frank reminds Helen to prepare for a surprise after the parade at the Post Headquarters.

Frank then drives to the parade, seeing the clean streets and modern houses. He thinks soldiers fought to protect these houses, which would otherwise be in ashes. He reflects that sometimes war seemed pointless to many, but people forget its "stern necessities." Frank had never seen actual fighting but reminded himself that he was always ready to fight if they had said the word. However, the armistice was signed a week after his platoon landed. He repeats his title: Lieutenant Frank Richmond Pearson of the Infantry.

Frank arrives at a freight yard for the parade preparation. He feels proud to be the only commissioned officer for the parade. Charlie Potter, a prominent realtor, was the only other officer but was of low ranking. The men enter a shed and see the Marne taxicab that helped save France from Germany, which they had shipped in by one of Frank's connections in Paris. Frank is chosen to drive the car for the parade, and they get into formation. Several men climb into the car with Frank, passing a whiskey bottle around.

The parade crowd gazes and smiles at an excited Frank as they begin. After driving for two blocks, the cab approached a doctor's office where Helen and Shirley were supposed to watch the parade. However, Frank doesn't see them among the many faces by the window. He thinks they should have taken more time and missed the chance to get a good spot. At the parade's final stop, the Post Headquarters, they begin the surprise ceremony to officially present the taxicab to the city. Frank still doesn't see his family. A speech is made to celebrate the artifact as a homage to the war and its sacrifices. The speaker mentions Frank and says the parade and obtaining the cab were only possible with him. Frank gives a short and nervous speech, and the parade ends.

On the way home, Frank and his friends from the parade talk about their families. Frank agrees with the men that kids have started to stay up late at night frequently, but he doesn't see the point in making a fuss about it. Frank considers the deserted streets piled with streamers on the sidewalks after the parade. He sees the flags on the houses and repeats his military title to himself again.