After one city falls, another is threatened. Bardas Loredan is now living on the island of Scona, where his brother and sister also reside. Bardas was half-kidnapped to the island by his sister (for his own safety she says), and he sulkingly retired to the mountains where he makes bows and avoids his siblings.
Scona is threatened by the much larger country of Shastel, home to the Foundation, a strange institution that is part bank and part university. Bardas's sister, Niessa, has founded a competing bank and took some business away from it (land mortgages, yawn). The Foundation insists on claiming back its business, even if it must use its army to do so. This means a strange sort of war between Shastel and Scona. Theoretically it's about where mortgages payments go, but in practice it means that Shastel sends raiding parties and Scona tries to stop them. Later these raids graduate into a full-fledged war.
Many things about this war are strange. Gorgas Loredan ably leads the Scona army. But Niessa, who is the de-facto leader of Scona, seems unsure that she even wants to fight a war; it's bad for business. Bardas, who had led the defense of Perimadeia in the previous book, is content to stay well out of this war. The tactics are also strange: Scona fields only archers and Shastel fields only halberdiers. Despite loss after loss the Shastel infantry soldiers never figure out that a shield might be useful against archers.
Another sort of war is fought in the Principle, that weird magic/philosophy hybrid. The Principle was unclear in the previous book and it remains unclear here, even though some characters claim to explain it thoroughly. The only thing that became clearer is that some users of the Principle understand it and use it to influence others, and others have a lot of power (they're "naturals") but they just serve as a battery for the more sophisticated users. For example, Niessa (a sophisticated user) uses Alexius (powerful but less sophisticated) for her forays into the Principle. But many things remain unclear. Many of the visions in the Principle are of events that never happen, but aren't they supposed to be of future "critical points"?. What exactly *can* Alexius and Dr. Gannadius do in the Principle, since they're not completely ignorant? *How* did Alexius curse Bardas in the previous book? I don't require formal systems of magic in my books: I actually prefer the "mysterious" form of magic. But here K. J. Parker describes a form of magic that he claims is perfectly clear while it's nothing of the sort. I feel like he's gaslighting us, and this annoyance is a big part of the reason that I knocked a star off the rating of this book.
There's some great writing in the book. The way the Foundation works is hilarious: there are many levels of academic bureaucracy; political factions; impassioned but cynical speechmaking; competitive one-upsmanship; and byzantine philosophical discussions featuring K. J. Parker's trademark tangle of made-up books and dead academics.
Some of the dialogues are positively delicious. Old Patriarch Alexius (retired) doesn't have a big role to play but whenever he appears he contributes his world-weary wit.
Bardas has only a small role in this book, which is surprising since he's the titular character of this series (it's called the "Fencer Trilogy"). Gorgas has the biggest part. Despite doing evil things, both in his youth and more recently (opening the gates of Perimadeia to the enemy), he considers himself a good person. Niessa is a disappointing character: she's always in control; always one step ahead of everyone else; and uses a heavy hand to force others to her will. Despite being Bardas's sister she's as much of a villain as the Foundation. More, really, because they're good-natured bumblers and Niessa comes across as an evil genius.
The book contains many detailed descriptions of bowmaking (a real-world hobby of K. J. Parker). I'm not a fan of this sort of thing, but it's less objectionable in this book than in the previous one because it's told in a more story-like fashion, e.g. when Bardas is teaching the profession to his young apprentice. Still, I hastened through those passages.