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- Ross returns to London with the Despards and Enyses in the hope of securing Ned and Kitty's return to Honduras at last. When the banks start issuing paper notes instead of gold, Demelza finds herself thrown into uncharted waters with her workers and the locals, which Tess and Jacka take advantage of. Morwenna tackles the grief of being parted from her son, and Drake goes to extreme lengths to ease her suffering. Meanwhile, Geoffrey Charles makes plain his intent to marry Cecily, landing them both in trouble.
George gives his maiden speech in parliament, lending support to the slavery underpinning his new business venture with Hanson. Ross must take a stand against him, but Ned's headstrong nature works against them both. As George conspires once again against his old enemy, his allies enact a plan to destroy their opposition for good.