The contents are as follows:
Hans Heiling, King of the gnomes, has fallen in love with a daughter of the earth; the charming Anna. This maiden, a poor country-girl in the first freshness of youth, has been induced by her mother to consent to a betrothal with the rich stranger, whom she esteems, but nothing more, her heart not yet having been touched by love.
In the prelude we are introduced into the depths of earth, where the gnomes work and toil incessantly carrying glittering stones, gold and silver and accumulating all the treasures, on which men's hearts are set.
Their King announces to them, that he will no longer be one of theirs; he loves, and therefore he resigns his crown. All the passionate entreatings of his mother and of the gnomes are of no avail. At the Queen's bidding he takes with him a magic book, without which he should lose his power over the gnomes, and after giving to her beloved son a set of luminous diamonds mother and son part, Heiling with joy in his heart, the mother in tears and sorrow.
In the first act Heiling arises from the earth, for ever closing the entrance to the gnomes.
Anna greets him joyously and Gertrud, her mother, heartily seconds the welcome. Heiling gives to his bride a golden chain, and Anna adorning herself, thinks with pleasure, how much she will be looked at and envied by her companions. She fain would show herself at once and begs Heiling to visit a public festival with her. But Heiling by nature serious and almost taciturn, refuses her request. Anna pouts, but she soon forgets her grief, when she sees the curious signs of erudition in her lover's room. Looking over the magic book, the leaves begin to turn by themselves, quicker and quicker, the strange signs seem to grow, to threaten her, until stricken with horrible fear Anna cries out, and Heiling, turning to her, sees too late what she has done. Angry at her curiosity, he pushes her away, but she clings to him with fervent entreaties to destroy the dreadful book. His love conquers his reason; and he throws the last link which connects him with his past into the fire. A deep thunder-peal is heard. Anna thanks him heartily, but from this hour the seed of fear and distrust grows in her heart.
Heiling, seeing her still uneasy, agrees to visit the festival with her upon condition that she refrains from dancing. She gladly promises, but as soon as they come to the festival, Anna is surrounded by the village-lads, who entreat her to dance. They dislike the stranger, who has won the fairest maiden of the village, and Conrad the hunter, who has long loved Anna, is particularly hard on his rival. He mocks him, feeling that Heiling is not what he seems, and tries to lure Anna away from his side. At last Heiling grows angry, forbidding Anna once more to dance. She is wounded by his words and telling him abruptly, that she is not married yet and that she never will be his slave, she leaves him.
In despair Heiling sees her go away with Conrad, dancing and frolicking.
In the second act we find Anna in the forest. She is in a deep reverie; her heart has spoken, but alas, not for her bridegroom, whom she now fears; it only beats for Conrad, who has owned his love to her. Darkness comes on and the gnomes appear with their Queen, who reveals to the frightened girl the origin of her bridegroom and entreats her to give back the son to his poor bereft mother. When the gnomes have disappeared, Conrad overtakes Anna, and she tells him all, asking his help against her mysterious bridegroom. Conrad, seeing that she returns his love, is happy. He has just obtained a good situation and will now be able to wed her.