Sharpe is horrified to be told that his regiment,the South Essex,is to be disbanded and discovers a plot whereby corrupt war minister Fenner and other high ranking militarists auction off soldiers privately,keeping the profits but still claiming on paper that the regiments exist. Having gained the ear of the eccentric Prince of Wales who orders Fenner to give him a new regiment Sharpe is now in danger from Fenner and he and Harper survive an attempt to kill them. Putting it about that they are dead they enlist,using assumed names,in the South Essex,falling foul of vicious Sergeant Lynch and paranoid Colonel Girdwood who abuse the naive young recruits. After Harper is ordered to be shot he and Sharpe escape,helped by Jane Gibbons,whose sadistic,corrupt uncle Simmerson,who also benefits by the auction scam,intends to marry her to Girdwood. Jane knows that her uncle keeps a ledger containing all the illegal transactions,which Sharpe must obtain to bring down the miscreants.