The novel's hero is a young man named Darsie Latimer. Early in the novel he is kidnapped by Hugh Redgauntlet, and taken to a village in Dumfriesshire. Darsie's friend Alan Fairford sets out to rescue him. After much intrigue Darsie discovers that Redgauntlet is his uncle, and he is also reunited with his sister. He also discovers that a number of prominent Jacobites, and Prince Charles Edward Stuart (Bonnie Prince Charlie or the Young Pretender) himself are staying in the village. Redgauntlet has summoned them all to start a new Jacobite rebellion, and he wants Darsie to join them. However, the Prince is still reeling from the French naval defeats at Quiberon Bay and Lagos, which represented Charles's last realistic chance to recover the British throne for the Stuart dynasty. Furthermore, Redgauntlet discovers that his fellow Jacobites are not as committed as he, and their stated objection is that they suspect the Prince's mistress, Clementina Walkinshaw, of being a spy. During these discussions, General Campbell arrives amongst them to announce that he and the government know what the conspirators are up to. The Prince is allowed to go into exile, and his followers peacefully disperse. Redgauntlet, seeing that the Jacobite cause is now lost, joins the Prince in exile. Darsie is set free having always remained loyal to the current king, and Alan marries Darsie's sister.