Jack ford loses his Midas touch and becomes a victim of the Wall Street crash which forces him to leave New York with gangsters threatening his life. He returns, illegally, to Liverpool as a stowaway on a cargo boat, which costs him every penny he has. He then sets about finding old friends and rebuilding his life. While riding in a London park jack meets old flame Lady Caroline who invites him up to the North. When he returns to Gallowshields Sarah gives Jack notice as her lodger. Fascism is rife and Jack becomes involved when the fascists attack a Jewish shop. Jack is still drinking heavily and now involved in the Spanish Civil War cause. He meets old friends and colleagues including Jessie and Billy Seaton and his ex-Sergeant Major who asks Jack a big favour - to take a cruise on a yacht to Spain. The yacht is carrying rifles for the Spanish Civil War and Jack enlists the help of the yacht's steward who is an ex-marine. Jessie and Jack have a heart-to-heart in a bombed house in Spain, little knowing what awaits them.
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