In this chapter, we are introduced to a poor child named "Jack," who lives with his mother in a small town in the Midwest. Jack's father has died, and for him, the only thing that matters is a cow that can make milk. One day, however, the cow becomes too old to make milk anymore, so Jack sells the cow for five beans. The beans grow into a giant beanstalk, which Jack climbs to the top of. He discovers a treasure hidden in the castle. The doctor tells Jack that an urgent surgery has just come up, and he needs him to come right away. Jack steals the goose, and the doctor tells him that he will be back soon.