The story revolves around three families in England at the beginning of the 20th century: the Wilcoxes, rich capitalists with a fortune made in the colonies; the half-German Schlegel siblings (Margaret, Helen, and Tibby), whose cultural pursuits have much in common with the Bloomsbury Group; and the Basts, an impoverished young couple from a lower-class background. The idealistic, intelligent Schlegel sisters seek to help the struggling Basts and to rid the Wilcoxes of some of their deep-seated social and economic prejudices.
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