Ransom Stoddard is a successful, but aging U.S. senator, who along with his wife, Hallie, returns to a small western town. They are there to attend the funeral of Tom Doniphon. A young local reporter presses Stoddard for an interview about why he has come to Doniphon's funeral and Doniphon begins to tell a story. Years ago he came to town as young newly-graduated attorney. He was bullied by Liberty Valance, a local tough outlaw, a gunman employed by the local cattle cartel directed to keep the town in line. Doniphon comes to Stoddard's aid when threatened by Valance. Valence challenges Stoddard to a gun fight. Amazingly, even wounded, Stoddard rises triumphant. Stoddard is elected to office in order to clear out the outlaws. The truth about what happened that night is kept a secret until now. The reporter rips up his notes claiming that the myth of the West is more important than the truth.