Gandalf paused. ‘And there in the dark pools amid the Gladden Fields,’ he said, ‘the Ring passed out of knowledge and legend; and even so much of its history is known now only to a few, and the Council of the Wise could discover no more. But at last I can carry on the story, I think.‘Long after, but still very long ago, there lived by the banks of the Great River on the edge of Wilderland a clever-handed and quiet-footed little people. I guess they were of hobbit-kind; akin to the fathers of the fathers of the Stoors, for they loved the River, and often swam in it, or made little boats of reeds. There was among them a family of high repute, for it was large and wealthier than most, and it was ruled by a grandmother of the folk, stern and wise in old lore, such as they had. The most inquisitive and curious-minded of that family was called Sméagol. He was interested in roots and beginnings; he dived into deep pools; he burrowed under trees and growing plants; he tunnelled into green mounds; and he ceased to look up at the hill-tops, or the leaves on trees, or the flowers opening in the air: his head and his eyes were downward.
‘He had a friend called Déagol, of similar sort, sharper-eyed but not so quick and strong. On a time they took a boat and went down to the Gladden Fields, where there were great beds of iris and flowering reeds. There Sméagol got out and went nosing about the banks but Déagol sat in the boat and fished. Suddenly a great fish took his hook, and before he knew where he was, he was dragged out and down into the water, to the bottom. Then he let go of his line, for he thought he saw something shining in the river-bed; and holding his breath he grabbed at it.
‘Then up he came spluttering, with weeds in his hair and a handful of mud; and he swam to the bank. And behold! when he washed the mud away, there in his hand lay a beautiful golden ring; and it shone and glittered in the sun, so that his heart was glad. But Sméagol had been watching him from behind a tree, and as Déagol gloated over the ring, Sméagol came softly up behind.
‘“Give us that, Déagol, my love,” said Sméagol, over his friend’s shoulder.
‘“Why?” said Déagol.
‘ “Because it’s my birthday, my love, and I wants it,” said Sméagol.
‘“I don’t care,” said Déagol. “I have given you a present already, more than I could afford. I found this, and I’m going to keep it.”
‘ “Oh, are you indeed, my love,” said Sméagol; and he caught Déagol by the throat and strangled him, because the gold looked so bright and beautiful. Then he put the ring on his finger.
‘No one ever found out what had become of Déagol; he was murdered far from home, and his body was cunningly hidden. But Sméagol returned alone; and he found that none of his family could see him, when he was wearing the ring. He was very pleased with his discovery and he concealed it; and he used it to find out secrets, and he put his knowledge to crooked and malicious uses. He became sharp-eyed and keen-eared for all that was hurtful. The ring had given him power according to his stature. It is not to be wondered at that he became very unpopular and was shunned (when visible) by all his relations. They kicked him, and he bit their feet. He took to thieving, and going about muttering to himself, and gurgling in his throat. So they called him Gollum, and cursed him, and told him to go far away; and his grandmother, desiring peace, expelled him from the family and turned him out of her hole.