"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.

THE FORGING OF BALMUNG

While Siegfried was still a young lad, his father sent him to live with a smith called Mimer, whose smithy was among the hills not far from the great forest. For in those early times the work of the smith was looked upon as the most worthy of all trades,—a trade which the gods themselves were not ashamed to follow. And this smith Mimer was a wonderful master,—the wisest and most cunning that the world had ever seen. Men said that he was akin to the dwarf-folk who had ruled the earth in the early days, and who were learned in every lore, and skilled in every craft; and they said that he was so exceeding old that no one could remember the day when he came to dwell in the land of Siegfried's people. Some said, too, that he was the keeper of a wonderful well, or flowing spring, the waters of which imparted wisdom and far-seeing knowledge to all who drank of them.

To Mimer's school, then, where he would be taught to work skilfully and to think wisely, Siegfried was sent, to be in all respects like the other pupils there. A coarse blue blouse and heavy leggings and a leathern apron took the place of the costly clothing which he had worn in his father's dwelling. On his feet were awkward wooden sandals, and his head was covered with a wolfskin cap. The dainty bed, with its downy pillows, wherein every night his mother had been wont, with gentle care, to see him safely covered, was given up for a rude heap of straw in a corner of the smithy. And the rich food to which he had been used gave place to the coarsest and humblest fare. But the lad did not complain. The days which he passed in the smithy were mirthful and happy; and the sound of his hammer rang cheerfully, and the sparks from his forge flew briskly, from morning till night.