- John Reid: I want some of the ore cast into silver bullets.
- Jim Blaine: Thunderation, what's the matter with lead bullets? They'll kill just as well as...
- John Reid: You forget I told you I vowed never to shoot to kill. Silver bullets will serve as sort of a symbol. Tonto suggested the idea.
- Jim Blaine: Symbol? Of what?
- John Reid: A symbol which means justice by law. I want it to become known to all who see the silver bullets that I live and fight only to see the eventual defeat and the proper punishment by law of every criminal in the West.
- Jim Blaine: By criminy, I think you got something there!
- [first lines]
- Narrator: Far from civilization, in a desolate canyon of the Southwest, are the graves of a patrol of Texas Rangers; victims of an ambush laid by the infamous Cavendish gang. One grave, however, differs strangely from the other five for it contains no corpse. Now, on the canyon walls, a desperate battle is being fought. Vince Collins, a member of the Cavendish gang, fights two determined men whom he has just tried to betray. One is a masked man, the Lone Ranger, who filled the empty grave to conceal the fact that he still lives. The other is Tonto, the Lone Ranger's Indian companion.
- Tonto: Him dead, Ke-Mo Sah-Bee, but me glad. Him deserve to die.
- The Lone Ranger: No, Tonto. No one should have his life end like this.
- Tonto: Like white parson say, this act of providence. Now no one know you still live.
- The Lone Ranger: Yes, that is true. A strange act of providence has protected my secret.
- Sheriff Two-Gun Taylor: Watch these owl-hoots close while I tie 'em up.
- Doc Drummond: Yeah. I hope they do make a move, especially this one.
- Butch Cavendish: Remember this, boys. I'm not in jail yet.
- Doc Drummond: Shut up. Working your mouth is making a move.
- Sheriff Two-Gun Taylor: So, Butch Cavendish is the judge's murderer, huh?
- Jim Blaine: Yeah. Right now, he's in this here vicinity wounded with my bullet in him.
- Jim Blaine: And I'll mold you all the silver bullets you want, Ranger. But from what I know about this here country, there'll be an awful lot of silver shot up before you're through.