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The two meet again later outside, where Charity tells Barnum that she is being sent to finishing school; Barnum reassures her that they will not be separated despite this.
Barnum, and his father, a tailor work for the Hallett family.After considerable difficulty finding a bank willing to loan money in order to to rebuild the circus, the recovering Carlyle steps in, offering to use his shared earnings from the show to rebuild it.However, as rebuilding the circus in its original location would be too expensive due to land costs, Barnum decides to rebuild it as an open-air tent circus by the harbor.To further Barnum’s struggles, word of the cancellation of Lind’s tour as well as his public intimacy with Lind reaches New York, resulting in not just further financial difficulties from the loss of income from the tour but also his eviction from his mansion and estrangement from his wife. However, he is confronted by his troupe of performers, who persuade him to continue and rebuild the circus.He resolves to, in future, keep himself down-to-earth rather than being carried away by reputation and wealth ("From Now On").Meanwhile, Carlyle and Wheeler struggle with their budding romance under pressure from societal norms.
Carlyle arranges for the two to go to the theater together, but as the two are entering they run into Carlyle's parents, who insult Wheeler, causing her to run out of the building.
Barnum returns home to find his circus on fire, a result of a fight between protesters and the troupe’s performers.
In the chaos, Carlyle believes Wheeler to be stuck in the burning building and impulsively races in to rescue her.
Taking a risky bet on an idea, he takes out a large loan from a bank, deceiving the bank into using the sunken trading ships of his former employer as collateral.
He uses this loan to build Barnum's American Museum in downtown Manhattan, an attraction showcasing various wax models of subjects.
The film was theatrically released in the United States on December 20, 2017.