Whitworth's sexual demands on Morwenna are making her life a misery. When she falls pregnant he brings in her sister Rowella to help her, a girl who immediately spots his weakness. To give the broken Drake a positive in his life, Ross sets him up with his own smithy. At the Enys's public union both Elizabeth and Demelza notice Morwenna's unhappiness. Warleggan is perturbed when Hugh's uncle, Lord Falmouth, singles Ross out as a hero, and Sir Francis Bassett, declaring him a man of the people, proposes him as a member of parliament. Ross declines, allowing Warleggan to assume the candidacy, much to the annoyance of Demelza, who becomes closer to the besotted Hugh Armitage. Aunt Agatha dies, but her final act is to suggest to Warleggan that Ross is the true father of his son Valentine.

Warleggan is triumphant to discover that the late Nathaniel Pearce embezzled money from Pascoe's, the bank used by Ross. With Ross in London - impressing prime minister Pitt - Demelza attempts to save the bank but fails and Warleggan takes full advantage to plot further. Drake is dissuaded from leaving the area by Sam but Morwenna still rejects him whilst Caroline returns from London with Ross for the opening of Dwight's new infirmary. Here Ross makes an impassioned speech which leads to the bank being saved. He also has a surprise for Demelza whilst Elizabeth has news of her own.

Joining the Enyses and Ross in London Demelza enjoys the city life and accompanies Ross to a charity ball thrown by Warleggan to celebrate his wife's pregnancy. Here she attracts Adderley's predatory attention, leading him to challenge Ross to a duel, the outcome of which makes Warleggan even more anxious to crush Ross. Whilst Demelza, overwhelmed by events, returns to Cornwall, Morwenna has a message for Drake and Geoffrey Charles makes an observation.