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The Hoard Of The Elves
by
Odin took the magic net from Loki’s shoulder; and, opening it, he poured the treasures of the mountain elves upon the otter skin. And Loki and Hoenir spread the yellow pieces carefully and evenly over every part of the furry hide. But, after every piece had been laid in its place, Hreidmar saw near the otter’s mouth a single hair uncovered; and he declared, that unless this hair, too, were covered, the bargain would be unfulfilled, and the treasures and lives of his prisoners would be forfeited.
The Asas were filled with dismay; for not another piece of gold, and not another precious stone, could they find in the net, although they searched with the greatest care. At last Odin took from his bosom the ring which Loki had stolen from the dwarf; for he had been so highly pleased with its form and workmanship, that he had hidden it, hoping that it would not be needed to complete the payment of the ransom. And they laid the ring upon the uncovered hair; and now no portion of the otter’s skin could be seen. And Fafnir and Regin, the ransom being paid, loosed the shackles of Odin and Hoenir, and bade the three huntsmen go on their way.
Odin and Hoenir at once shook off their human disguises, and, taking their own forms again, hastened with all speed home to Asgard. But Loki tarried a little while, and said to Hreidmar and his sons:
“By your greediness and falsehood you have won for yourselves the Curse of the Earth, which lies before you. It shall be your bane. It shall be the bane of everyone who holds it. It shall kindle strife between father and son, between brother and brother. It shall make you mean, selfish, beastly. It shall transform you into monsters. The noblest king among men folk shall feel its curse. Such is gold, and such it shall ever be to its worshippers. And the ring which you have gotten shall impart to its possessor its own nature. Grasping, snaky, cold, unfeeling, shall he live; and death through treachery shall be his doom.”
Then he turned away, delighted that he had thus left the curse of Andvari with Hreidmar and his sons, and hastened northward toward the sea; for he wished to redeem the promise that he had made to the Ocean-queen, to bring back her magic net, and to decoy the richly laden ship into her clutches.
No sooner were the strange huntsmen well out of sight than Fafnir and Regin began to ask their father to divide the glittering hoard with them.
“By our strength and through our advice,” said they, “this great store has come into your hands. Let us place it in three equal heaps, and then let each take his share and go his way.”
At this the farmer waxed very angry; and he loudly declared that he would keep all the treasure for himself, and that his sons should not have any portion of it whatever. So Fafnir and Regin, nursing their disappointment, went to the fields to watch their sheep; but their father sat down to guard his new-gotten treasure. He took in his hand the glittering serpent ring, and gazed into its cold ruby eyes; and, as he gazed, all his thoughts were fixed upon his gold; and there was no room in his heart for love toward his fellows, nor for deeds of kindness, nor for the worship of the All-Father. And behold, as he continued to look at the snaky ring, a dreadful change came over him. The warm red blood, which until that time had leaped through his veins, and given him life and strength and human feelings, became purple and cold and sluggish; and selfishness, like serpent’s poison, took hold of his heart. Then, as he kept on gazing at the hoard which lay before him, he began to lose his human shape; his body lengthened into many scaly folds, and he coiled himself around his loved treasures,–the very likeness of the ring upon which he had looked so long.
When the day drew near its close, Fafnir came back from the fields with his herd of sheep, and thought to find his father guarding the treasure, as he had left him in the morning; but instead he saw a glittering snake, fast asleep, encircling the hoard like a huge scaly ring of gold. His first thought was that the monster had devoured his father; and, hastily drawing his sword, with one blow he severed the serpent’s head from its body. And, while yet the creature writhed in the death agony, he gathered up the hoard, and fled with it beyond the hills of Hunaland, until on the seventh day he came to a barren heath far from the homes or men. There he placed the treasures in one glittering heap; and he clothed himself in a wondrous mail-coat of gold that was found among them, and he put on the Helmet of Dread, which had once been the terror of the mid-world, and the like of which no man had ever seen; and then he gazed with greedy eyes upon the fateful ring, until he, too, was changed into a cold and slimy reptile,–a monster dragon. He coiled himself about the hoard; and, with his restless eyes forever open, he gloated day after day upon his loved gold, and watched with ceaseless care that no one should come near to despoil him of it. This was ages and ages ago; and still he wallows among his treasures on the Glittering Heath, and guards as of yore the garnered wealth of Andvari.
[1]Regin, one of the last of the race of Dwarfs, was a master smith and by some said to be the teacher of Siegfried. The story is supposed to have been related to Siegfried in the dusky smithy of the dwarf.