Last we seen Spider-Man, he acted in a cowardly manner leaving a battle with the Green Goblin in front of many at his fan club get together last issue. Unknown to everyone though was that Peter's Aunt had a heart attack and was in the hospital. Daily Bugle publisher J. Jonah Jameson was in his glory with this news and is portraying Spider-Man as a coward. How much worse can things get for Spider-Man?

The story begins with little cameos of the Green Goblin, Doctor Octopus, Kraven, and the Vulture taking joy in Spider-Man's defeat while cameos of the Fantastic Four, Avengers, and Daredevil are confused as to why he acted so cowardly. All over the street they are talking about how Jameson exposed Spider-Man as a fraud and we cut to the Parker residence where we meet a new character who somehow manages to survive to this day: Aunt May's best friend and neighbor Anna Watson. Anna came over to help Peter take care of his ailing Aunt while he attends school. When he comes home after school, Peter discovers that his Aunt's medicine is getting dangerously low. Peter knows he needs to make some money and as Spider-Man tries to sell his image to an artist but gets turned down. When he returns home, he is shocked to see the Doctor is there and is getting more and more worried as his bank account gets lower and lower.

At the offices of the Daily Bugle, J. Jonah Jameson is walking around with the biggest smile that ever came across his face that any of his workers ever saw. The news concerning Spider-Man's recent cowardice made him the happiest man alive. Peter on the other hand, is getting more angrier as the same news knowing that he can't explain that he has to keep care of his ailing Aunt, and he is still desperate to make money. He tries to sell his web fluid creation to some scientists but they turn him down due to the webbing eventually losing it's adhesiveness within time. Frustrated, Spider-Man leaves and the "bumps" into the Sandman (last seen in Amazing Spider-Man Annual #1), but Spider-Man again runs away saying "This is not the time or place". Again, Spider-Man leaves many on-lookers with the impression that he is a coward.

When Peter arrives home, he finds his Aunt at the door. Mrs. Watson went home to cook dinner for her husband (of which she never had and this is the only time this was mentioned). On television, Jameson is still in his glory about the recent actions of Spider-Man. One of many watching the program is the Human Torch who still doesn't believe that Spider-Man is a coward and writes to Spider-Man in the sky using his flame to meet him. The Torch waits and waits at the Statue of Liberty but Spider-Man never shows. Peter is still busy at home with his Aunt until Liz Allan comes over very upset. She tells Peter that Flash Thompson has put on a Spider-Man costume (remember Amazing Spider-Man #5?) to prove that his hero is as brave as ever. It was a good idea until he ran into some genuine thieves who beat him up pretty good until the police arrive and notice who it really is.

The next day after school, Peter rushes home again only to discover that Betty Brant is arm-in-arm with another guy. This is where we meet for the very first time another character who will play a somewhat medium-sized supporting cast role in Ned Leeds. Ned and Betty actually end up marrying in Amazing Spider-Man #156 and go through some marital problems much later on until his death being framed as the Hobgoblin in Spider-Man Versus Wolverine #1. Peter is stunned to see them this way but he continues on his way home. When he arrives, he learns that his Aunt is feeling much better, but when he gets to his room, he throws his costume into the garbage. When comes back out of his room, he discovers that Aunt May is not in the wheelchair that she has been in for awhile. His Aunt is up walking around saying that she is not a quitter and her Doctor is there as well who re-affirms Peter hat she is truly doing much better. So much better that she no longer needs her medication. Peter is greatly relieved and upon opening the days newspaper reading another new story about how Spider-Man is a coward, he angrily rips the paper into shreds. Peter goes back to his room and retrieves his costume from the garbage and dons it. Now wanting to make Jameson eat his own words, Peter exclaims "Fate gave me some terrific super powers and I realize now that it is my duty to use them!" and "I'll fight as I've never fought before!"

Spider-Man sounds pretty pumped huh!? Well, we will have to wait until next issue to see just how pumped he is! You are sure to see him on a rampage, believe me! Pretty good first part of this two part story that concludes next issue.

Reprinted In:
Marvel Tales #13
Marvel Tales #156
Spider-Man Megazine #3
 Marvel Masterworks Vol. 5
Spider-Man Essentials I