Silas earns a fortune in the paint business, but he lacks social standards, which he tries to attain through his daughter's marriage into the aristocratic Corey family.

The novel begins with Silas Lapham, a middle-aged native of rural New England, being interviewed for a newspaper story about his rise to wealth in the mineral paint business.

Tom introduces Lapham to the cream of Boston society at a dinner party, and they remain on good terms even though the occasion turns out to be embarrassingly awkward.

Though Penelope has feelings for Tom, she is held back by the romantic conventions of the era, not wanting to act on her love for fear of betraying her sister.

For instance, Lapham is generous to the widow and daughter of his fallen Civil War comrade Jim Millon, feeling that he owes the man his life.

However, Lapham turns down the opportunity to salvage his fortunes by participating in a dishonest scheme contrived by Rogers and unscrupulous English investors.

[3] The magazine's editor, Richard Watson Gilder, was concerned about any descriptions of violence, however, especially after recent anarchist activity, and asked Howells to edit a line that was originally as a character noting his desire of "applying dynamite to those rows of close-shuttered, handsome, brutally insensitive houses".

"[5] Historian Scott E. Casper suggested that The Rise of Silas Lapham was partly a satire on contemporary biography conventions.

[6] Further, the title character is excessively class-conscious and worries about being humiliated for not fitting in with the culture of wealthy Boston, as exemplified in a scene where he struggles to determine if it is appropriate to wear gloves to a particular event, but refuses to ask for help.