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In the end Bilbo won the game； more by luck （as it seemed） than by wits； forhe was stumped at last for a riddle to ask； and cried out； as his hand cameupon the ring he lad picked up and forgotten： _What haw I got in my pocket？_
This Gollum failed to answer； though he demanded three guesses。
The Authorities； it is true； differ whether this last question was a mere'question' and not a 'riddle' according to the strict rules of the Game； butall agree that； after accepting it and trying to guess the answer； Gollum wasbound by his promise。 And Bilbo pressed him to keep his word； for the thoughtcame to him that this slimy creature might prove false； even though suchpromises were held sacred； and of old all but the wickedest things feared tobreak them。 But after ages alone in the dark Gollum's heart was black； andtreachery was in it。 He slipped away； and returned to the island； of whichBilbo knew nothing； not far off in the dark water。 There； he thought； lay hisring。 He was hungry now； and angry； and once his 'precious' was with him hewould not fear any weapon at all。
But the ring was not on the island； he had lost it； it was gone。 Hisscreech sent a shiver down Bilbo's back； though he did not yet understand whathad happened。 But Gollum had at last leaped to a guess； too late。 _What has itgot in its pocketses？_ he cried。 The light in his eyes was like a green flameas he sped back to murder the hobbit and recover his 'precious'。 Just in timeBilbo saw his peril； and he fled blindly up the passage away from the water；
and once more he was saved by his luck。 For just as he ran he put his hand inhis pocket； and the ring slipped quietly on to his finger。 So it was thatGollum passed him without seeing him； and went to guard the way out； lest the'thief' should escape。 Warily Bilbo followed him； as he went along； cursing；
and talking to himself about his 'precious'； from which talk at last evenBilbo guessed the truth； and hope came to him in the darkness： he himself hadfound the marvellous ring and a chance of escape from the orcs and fromGollum。
At length they came to a halt before an unseen opening that led to thelower gates of the mines； on the eastward side of the mountains。 There Gollumcrouched at bay； smelling and listening； and Bilbo was tempted to slay himwith his sword。 But pity stayed him； and though he kept the ring； in which hisonly hope lay； he would not use it to help him kill the wretched creature at a
disadvantage。 In the end； gathering his courage； he leaped over Gollum in thedark； and fled away down the passage； pursued by his enemy's cries of hate anddespair： _Thief； thief！ Baggins！ We hates it for ever！_
Now it is a curious fact that this is not the story as Bilbo first toldit to his panions。 To them his account was that Gollum had promised to givehim a _present；_ if he won the game； but when Gollum went to fetch it from hisisland he found the treasure was gone： a magic ring； which had been given tohim long ago on his birthday。 Bilbo guessed that this was the very ring thathe had found； and as he had won the game； it was already his by right。 Butbeing in a tight place； he said nothing about it； and made Gollum show him theway out； as a reward instead of a present。 This account Bilbo set down in hismemoirs； and he seems never to have altered it himself； not even after theCouncil of Elrond。 Evidently it still appeared in the original Red Book； as itdid in several of the copies and abstracts。 But many copies contain the trueaccount （as an alternative）； derived no doubt from notes by Frodo or Samwise；
both of whom learned the truth； though they seem to have been unwilling todelete anything actually written by the old hobbit himself。
Gandalf； however； disbelieved Bilbo's first story； as soon as he heardit； and he continued to be very curious about the ring。 Eventually he got thetrue tale out of Bilbo after much questioning； which for a while strainedtheir friendship； but the wizard seemed to think the truth important。 Thoughhe did not say so to Bilbo； he also thought it important； and disturbing； tofind that the good hobbit had not told the truth from the first： quitecontrary to his habit。 The idea of a 'present' was not mere hobbitlikeinvention； all the same。 It was suggested to Bilbo； as he confessed； byGollum's talk that he overheard； for Gollum did； in fact； call the ring his'birthday present'； many times。 That also Gandalf thought strange andsuspicious； but he did not discover the truth in this point for many moreyears； as will be seen in this book。
Of Bilbo's later adventures little more need be said here。 With the helpof the ring he escaped from the orc…guards at the gate and rejoined hispanions。 He used the ring many times on his quest； chiefly for the help ofhis friends； but he kept it secret from them as long as he could。 After hisreturn to his home he never spoke of it again to anyone； save Gandalf andFrodo； and no one else in the Shire knew of its existence； or so he believed。
Only to Frodo did he show the account of his Journey that he was writing。
His sword； Sting； Bilbo hung over his fireplace； and his coat ofmarvellous mail； the gift of the Dwarves from the Dragon…hoard； he lent to amuseum； to the Michel Delving Mathom…house in fact。 But he kept in a drawer atBag End the old cloak and hood that he had worn on his travels； and the ring；
secured by a fine chain； remained in his pocket。
He returned to his home at Bag End on June the 22nd in his fifty…secondyear （S。R。 1342）； and nothing very notable occurred in the Shire until Mr。
Baggins began the preparations for the celebration of his hundred…and…eleventhbirthday （S。R。 1401）。 At this point this History begins。
At the end of the Third Age the part played by the Hobbits in the greatevents that led to the inclusion of the Shire in the Reunited Kingdom awakenedamong them a more widespread interest in their own history； and many of theirtraditions； up to that time still mainly oral； were collected and Writtendown。 The greater families were also concerned with events in the Kingdom atlarge； and many of their members studied its ancient histories and legends。 Bythe end of the first century of the Fourth Age there were already to be foundin the Shire several libraries that contained many historical books andrecords。
The largest of these collections were probably at Undertowers； at GreatSmials； and at Brandy Hall。 This account of the end of the Third Age is drawnmainly from the Red Book of Westmarch。 That most important source for the
history of the War of the Ring was so called because it was long preserved atUndertowers； the home of the Fairbairns； Wardens of the Westmarch。 It was inorigin Bilbo's private diary； which he took with him to Rivendell。 Frodobrought it back to the Shire； together with many loose leaves of notes； andduring S。R。 1420…1 he nearly filled its pages with his account of the War。 Butannexed to it and preserved with it； probably m a single red case； were thethree large volumes； bound in red leather； that Bilbo gave to him as a partinggift。 To these four volumes there was added in Westmarch a fifth containingmentaries； genealogies； and various other matter concerning the hobbitmembers of the Fellowship。
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