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The Council of Elrond convenes. Gloin describes the history of
the dwarves: of how Balin led a group back to Moria (also called
Khazad-dum), where their forefathers had once lived and worked.
No word has been heard from them for 30 years.
Elrond gives a history of the Ring. Long ago the elves learned
the craft of making rings and Sauron learned from them how to make
the One Ring, that would be the master of all the others. Sauron
was not that strong in those days and he was defeated in a large
battle by the Kings of Men. Ilsador cut the Ring from Sauron's hand
and took it for his own when he should have destroyed it by throwing
it into the fires of Orodruin. Elrond was with him when he obtained
the Ring.
Then the ring fell into the Anduin river where after many years
it was found by Gollum (also called Smeagol). Bilbo found the ring
when it had slipped off the finger of Gollum, and he gave it to
Frodo.
Gandalf then relates how Saruman the White, the chief wizard now
desires the Ring as well. When Gandalf refuses to join him, he was
imprisoned on a high tower. After a long while, an eagle came and
carried Gandalf away.
After carefully considering the alternatives, it is decided that
the Ring must be destroyed, and that Frodo is the one who should
make the attempt.
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